China’s factory activity returned to growth in December, snapping a record eight-month contraction in a rare positive signal as Beijing tries to spark optimism in the world’s second-biggest economy.
The official manufacturing purchasing managers’ index rose to 50.1 this month from 49.2 in November, according to the data released on Wednesday by the National Bureau of Statistics. The reading was also ahead of 49.2 expected by analysts in separate polls by Bloomberg and Reuters.
The non-manufacturing PMI, which tracks construction and services, also swung back to growth in December, registering a reading of 50.2 following a three-year low of 49.5 a month earlier. A reading below 50 signals a contraction in activity.
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