In December 2022, Caixin's manufacturing PMI dropped to 49

The PMI of manufacturing industry in December 2022 released by the National Bureau of Statistics of China was 47, a drop of 1 point, the lowest since March 2020. The reason for the decline of the composite index in December was the accelerated contraction of the total number of new orders. At the same time, the demand of overseas markets for Chinese manufacturing products also declined, which was more severe than that in November. Enterprises reported that the decrease in exports was generally due to the global economic downturn and epidemic.