China's official December PMI rises to 50.3, beating estimates of 49.1 and last month's 49.0....

|By:, SA News Editor

China's official December PMI rises to 50.3, beating estimates of 49.1 and last month's 49.0. The "festival effects" of the western New Year and upcoming Chinese celebrations helped boost the gauge, says the statistics bureau in a statement. HSBC's PMI also rose in December, but remained in contractionary territory at 48.7.