Results of a private survey on China’s manufacturing for the month of December showed factory activity contracted for the first time in 19 months amid a trade dispute with the U.S.
The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI), a private survey, fell to 49.7 in December from 50.2 in November. Analysts’ in a Reuters poll predicted the PMI to come in at 50.1 in December.
A reading above 50 indicates expansion, while a reading below that level signals contraction.
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