China's December manufacturing PMI retreats

Chinese manufacturing business activity waned slightly in December but was still expanding, official data showed on Thursday.
The manufacturing purchasing manager's index (PMI), a key measure of factory activity in China, posted at 50.1 in December, down from 50.3 in November, according to the data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
In terms of the size of the surveyed enterprises, the PMI of large manufacturers posted 51.4, down from 51.6 in November.
That of medium enterprises stood at 48.7, up from 48.4 in November, but still in a state of contraction.
The PMI of small manufacturers slumped to 45.5, down from 47.6 in November, and remained in the contraction territory, the NBS said.
Among the sub-indices of the PMI, the production index posted at 52.2 percent, down from 52.5 in November.
The index of new orders slipped to 50.4, down from 50.9 in November. The employment index was 48.1, down from 48.2 in November.