Released: 22 December 2020
December Data Shows China Manufacturing and Services Sectors Both Powering Ahead
Business Confidence rose in December in the Manufacturing sector to a 67 month high suggesting very full order books will materialise in the first quarter of 2021.
Confidence in the Services sector was down on the November figure but remains healthily over the “50 no growth” line.
Sales Growth
The Sales Growth Indexes for both sectors of the Chinese economy reflected rapid recovery from Covid related problems in December.
The Services sector in particular looks very robust, with the Sales Index coming in at 56.2, way higher than the already creditable 53.4 recorded in November.
The Manufacturing sector also recorded rapid sales growth, although some way behind Services.
Profit Levels
Both Manufacturing and Services panels reported healthy profits in December, with the Manufacturing sector in particular recording levels that suggest Covid problems have been relegated one way or another to the past.
Staffing levels
The only slightly negative numbers to emerge from the December survey relate to Jobs. The Staffing indexes in both sectors remain clinging tightly to the 50 level, suggesting that although business conditions are far better now than was the case a few months back, the shock of Covid has left businesses reluctant to take on more people, for the moment.
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