China’s Economy Ends 2019 Brighter With Trade Deal in Sight
- New export orders expand for first time since May 2018
- Signing of U.S. trade deal expected in early January
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China’s manufacturing sector continued to expand output in December, adding to evidence that the world’s second-largest economy is stabilizing as the signing of a phase one trade deal with the U.S. nears.
The manufacturing purchasing managers’ index remained at 50.2, according to data released by the National Bureau of Statistics on Tuesday. The outlook for export-oriented firms brightened, with a sub-index of new orders for export rising above the 50 mark for the first time since May 2018, production recovered for a second month and output prices narrowed their decline.