economy

December 31, 2025

China manufacturing activity expands for the first time since March, beating expectations

China’s economy ended the year on a slightly less gloomy note as manufacturing, services and construction activity all improved in December.

China manufacturing activity expands for the first time since March, beating expectations

TL;DR

  • China's manufacturing PMI rose to 50.1 in December, indicating expansion for the first time since March and surpassing expectations.
  • The composite PMI, tracking both manufacturing and services, increased to 50.7, signaling a broader economic improvement.
  • New orders and production in manufacturing saw significant expansion, supported by domestic demand and new product launches.
  • Large enterprises experienced a notable improvement in activity, but medium and small enterprises showed continued weakness.
  • The positive data offered a surprise to the market, suggesting the economy is on a positive trend despite concerns about the property market and consumption.

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