China: Weakness in manufacturing data – TDS

Analysts at TD Securities note that China’s Caixin manufacturing PMI slipped to 51.5 in December (TD 51.8, market 51.6) from 51.6 in November.

Key Quotes

“Despite the fall the index has been in expansion for five consecutive months. The breakdown revealed that output fell to 52.8 in Dec from 52.9 previously, while new orders also fell. The market impact is likely to be limited, with ongoing expansion the main story from the data.”