The Chinese manufacturing sector saw a sizeable contraction in December along with a spike in cases of Covid-19 in the country as the workforce is prevented from going to work, The Global Times reported. The Global Times report cited a National Bureau of Statistics (NBS) majority of surveyed companies and said they expect the prospect to improve after the pandemic situation is eased. Although the same report says that China’s official manufacturing Purchasing Managers’ Index (PMI) has fallen to 47 from November’s number of 48 and 49.2 in October this year. China’s NBS Manufacturing PMI is the index that measures the manufacturing sector’s performance and is derived from a survey of more large-scale, state-owned companies. Further according to the Global Times report the 50-point mark separates expansion from contraction on a monthly basis.
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