China factory conditions weaken for 10th month: private survey
In this file photo, an employee works in a textile factory in Huaibei in central China's Anhui province on Aug. 28, 2015. (Chinatopix)
The Associated Press
Published Sunday, January 3, 2016 10:34PM EST
HONG KONG -- A private survey shows that Chinese manufacturing contracted for the 10th straight month in December as demand remained weak and factories trimmed staff and output.
The Caixin/Markit index, based on a survey of factory purchasing managers, fell to 48.2 in December from 48.6 the previous month.
The index uses a 100-point scale with numbers above 50 indicating expansion.
It's the latest sign of the headwinds the world's No. 2 economy faces as a new year unfolds.
China's manufacturing industries are facing soft demand from customers as global growth remains weak.
A separate survey by an official group released Friday found factory activity ticked up slightly from its lowest level in three years but was still contracting.