China’s New Order Index Falls for 3 Consecutive Months Amid Declining Global Demand
News Analysis
China’s new order index in December 2022 was 43.9 percent, down 2.5 percent from November, marking the third consecutive month that the index has fallen. The drop indicates an expanding decline in global demand for China’s manufacturing industry, expert says.
The index dropped 1.7 percentage points in October and November, while December’s decline expanded by 0.8 percentage points to 2.5 percent, illustrating a grim outlook for the country’s manufacturing industry.
Meanwhile, the country’s manufacturing purchasing managers index (PMI) for December 2022 was 47.0 percent, a decrease of 1.0 percentage points from the previous month, according to data released by China’s National Bureau of Statistics on Dec. 31, 2022….