Chinese firms signal increases in output, new orders

By Gokhan Ergocun

ISTANBUL (AA) - Chinese companies signaled stronger increases in output and new orders amid reports of firmer market demand, data provider S&P Global said on Tuesday.

"At the same time, new export business fell at the softest rate in six months," it said, adding: "However, business confidence regarding the year-ahead remained historically subdued and firms maintained a cautious approach to employment, as staffing levels fell for the fourth straight month."

Cost pressures continued to moderate at the end of 2023, with average input costs rising at the weakest pace since the mid-year.

With these developments, the country's Purchasing Managers Index (PMI) was at 50.8 in December, increasing slightly from 50.7 in November.

"The slight uplift in the headline index was partly due to a stronger rise in new orders during December," S&P Global said.