Economy

Demeter

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25. China factory activity contracts in December as slowdown deepens

Wed Dec 31, 2014, 11:16 PM

Dec 2014

http://www.reuters.com/article/2014/12/31/us-china-economy-pmi-idUSKBN0K902920141231

Activity in China's factory sector shrank for the first time in seven months in December, a private survey showed on Wednesday, highlighting the urgency behind a series of surprise easing moves by Beijing in the past two months.

The weak performance will add to the debate over whether Beijing needs to roll out more support measures to avert a sharper economic slowdown or fast-track market reforms to stimulate demand - or both.

The report puts a final sluggish stamp on what has been a surprisingly grim fourth quarter for the world's second-largest economy, which is expected to grow at its slowest pace this year in nearly a quarter of a century.

"Domestic demand led the slowdown as new orders contracted for the first time since April 2014. Price contraction deepened," said Qu Hongbin, chief economist for China at HSBC.

"We believe that weaker economic activity and stronger disinflationary pressures warrant further monetary easing."

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