Market Updates: China’s December Manufacturing Activity Contracts – Trade War Plays
China Federation of Logistics and Purchasing reported weaker than anticipated manufacturing activity in December. The manufacturing index...
Arslan Butt•Monday, December 31, 2018•1 min read
The China Federation of Logistics and Purchasing reported weaker than anticipated manufacturing activity in December. The manufacturing index fell to 49.4, which is lower than economists’ forecast of 49.9. Fellas, it’s even worse than November’s official manufacturing PMI, which was 50.0.
A reading above 50 indicates expansion, while a reading below that signals contraction. On the flip side, the non-manufacturing PMI came in at 53.8, higher than the reading of 53.4 in November. The trade war between the US and China continues to drag the Chinese economy down.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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