China's manufacturing sector continued its growth trajectory in December for the third consecutive month, according to official data. Despite the positive signal, economists warn that more direct fiscal stimulus is needed to fully recover the economy from the pandemic and property market woes.
BEIJING—China’s manufacturing activity expanded in December for the third month in a row, official data showed Tuesday, as leaders fight to reverse a slowdown in the world’s number two economy.
Beijing has unveiled a string of aggressive measures in recent months aimed at bolstering growth, including cutting interest rates, cancelling restrictions on homebuying and easing the debt burden on local governments. “The official PMIs suggest that the economy gained momentum in December, driven by faster growth in the services and construction sectors,” Gabriel Ng of Capital Economics wrote in a note to clients Tuesday.
CHINA ECONOMY MANUFACTURING PMI GROWTH FISCAL STIMULUS
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