The Caixin China General Composite PMI rose to 52.6 in December 2023 from 51.6 in the prior month, marked the 12th straight month of growth in private sector activity and the steepest pace since May, as factory activity increased the most in four months and the service sector expanded at the fastest rate since July.
Lastly, sentiment strengthened to a three-month high amid hopes of stronger economic conditions and a rise in customer spending. However, it was still below the series average.
“Looking to the new year, there is still room for adjustments in fiscal and monetary policies,” said Dr. Wang Zhe, senior economist at Caixin Insight Group.
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