Private gauge shows China factory activity picks up, beats NBS data

The Caixin manufacturing purchasing managers index rose to 50.8 last month from 50.7 in November, the strongest reading since August. — Bloomberg

SHANGHAI: A private gauge of China’s factory activity gains momentum, contrasting with official data that suggests the outlook for the nation’s manufacturers remains fragile.

The Caixin manufacturing purchasing managers index (PMI) rose to 50.8 last month from 50.7 in November, the strongest reading since August and above the estimate in a Bloomberg survey of economists. A reading above 50 indicates expansion, and anything below that points to contraction.