China Dec Manufacturing Eases on Tightening Moves

By: AP
By: AP

The state-affiliated China Federation of Logistics and Purchasing said Saturday that its purchasing managers index, or PMI, dipped to 53.9 last month from 55.2 in November and 54.7 in October.

It was the first decline in five months but the 22nd straight month that the reading has stayed above 50, the benchmark for expansion.

The survey covered 820 companies across a range of industries and is an indicator of future trends.

The federation said in a notice on its website that the index continues to remain at a high level, showing that current economic growth is steady.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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