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Growth in China's factories, services slows in December

It shows that measures to rein in soaring asset prices are starting to have a knock-on effect on broader economy

Published Sun, Jan 1, 2017 · 09:50 PM
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Beijing

CHINA'S manufacturing sector expanded for a fifth month in December, but growth slowed a touch more than expected in a sign that government measures to rein in soaring asset prices are starting to have a knock-on effect on the broader economy.

The official Purchasing Managers' Index (PMI) stood at 51.4 in December compared with 51.7 in November. A reading above 50 indicates an expansion on a monthly basis while one below 50 suggests a contraction.

December's reading was slightly below the forecast in a Reuters poll for 51.5.

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