BEIJING: China's manufacturing sector continued its expansion into December 2024, though the growth in new orders and production has decelerated. This slowdown was accompanied by a drop in overall sales, largely attributed to falling export orders and declining employment levels, as reported by data provider S and P Global on Thursday.

According to Anadolu Agency, Chinese manufacturers have also reduced their selling prices, choosing to absorb price increases to maintain sales levels. This decision highlights the pressures faced by manufacturers amid the current economic climate.

The country's Purchasing Managers Index (PMI) for the manufacturing sector registered at 50.5 in December, a decrease from 51.5 in November. This figure indicates that while conditions in the manufacturing sector have improved for a third consecutive month, the rate of growth has slowed, signaling only marginal overall growth.

S and P Global further noted that manufacturing production in China increased for the fourteenth consecutive month in December. However, the easing of the PMI reflects a tempering of business optimism as companies navigate the challenges of a fluctuating global market.