China's December reading for the Caixin Manufacturing PMI slipped back into contractionary waters for the first time since May of 2017, printing at 49.7 versus the expected 50.1, while November's reading came in at 50.2.
Key highlights
Manufacturing demand within China continues to decrease amidst a broader slowdown, squeezing growth out of the domestic Chinese economy and threatening to evolve into a full-blown downturn. China's subindex for new manufacturing orders also declined recently, dropping below the key 50-mark for the first time since June of 2016, while new orders for export goods remain firmly buried in contractionary territory.
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