BEIJING, Dec 31 (Reuters) - Factory activity in China expanded for a second straight month in December, as Beijing’s stimulus measures buoyed domestic demand and exporters cheered a trade war truce with the United States.
The Purchasing Managers’ Index (PMI) was unchanged at 50.2 in December from November, China’s National Bureau of Statistics said on Tuesday, and remained above the 50-point mark that separates growth from contraction on a monthly basis.
Analysts polled by Reuters had expected the December headline reading would come in at 50.1. November’s gain had ended six straight months of contraction.
China’s economy could face more pressure in 2020 than it did this year, but the government will take steps to keep growth within a reasonable range, state television recently quoted Premier Li Keqiang as saying. Growth in the third quarter cooled to 6%, the lowest in nearly 30 years.
Reporting by Beijing Monitoring Desk; Editing by Sam Holmes