China's Manufacturing Activity Slows in December amid Growing Trade Risks
Dec 31, 2024

China's Manufacturing Activity Slows in December amid Growing Trade Risks

Despite recent stimulus measures and escalating trade risks, China's factory activity saw a slower pace of expansion in December, official data unveiled. According to Euronews, the Purchasing Managers Index (PMI), derived from a survey of factory managers, dipped to 50.1, marginally down from November's 50.3, as reported by the National Bureau of Statistics.

This marks the third consecutive month with a PMI reading above 50, a threshold indicating expansion in manufacturing activity. The deceleration has been linked to a "decline in the output component," noted Gabriel Ng from Capital Economics. Additionally, the output price component's fall suggests ongoing downward pressure on prices.

Interestingly, new orders surged to an eight-month high, while the export orders index climbed to a four-month peak, possibly boosted by U.S. importers rushing to buy ahead of potential tariffs proposed by incoming U.S. President Donald Trump. Trump's agenda includes a 10% tariff on Chinese goods, heightening China's trade risks while the nation also grapples with a slowing economy impacted by reduced consumption and a property crisis.

Conversely, a separate PMI for the non-manufacturing sector, encompassing sectors like construction and services, increased to 52.2 points from November's 50 points. Meanwhile, the World Bank has revised its forecast for China's economic growth to 4.9%, though it cautions that declining consumer confidence, an aging population, low consumption, and high debt levels will continue to challenge China's economic outlook.

Source: IndexBox Market Intelligence Platform

  1. 1. INTRODUCTION

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  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
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    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
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  5. 5. MOST PROMISING SUPPLYING COUNTRIES

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    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
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  7. 7. GLOBAL PRODUCTION

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  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
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  10. 10. PROFILES OF MAJOR PRODUCERS

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  11. 11. COUNTRY PROFILES

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    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
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    • India
    • Canada
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    • Republic of Korea
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  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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