China’s National Bureau of Statistics has released the purchasing managers’ index, PMI, for the non-manufacturing sector. PMI for services in December dipped to 54.6 percent, 1.4 percent down from the 56 percent in November. It mirrors a slowdown in manufacturing activity growth.
For more analysis on the just released December non-manufacturing PMI, we are joined in the studio by Professor Huo Deming from National School of Development at Peking University.
Professor Huo Deming thinks that the slowdown at the services sector and the manufacturing sector in December are only the result of a seasonal factor it is the coolest month in the economy.
In terms of the global economy he sees optimistic developments in the U.S. economy with greater growth
prospects, and a euro zone slow recovery, which are good for the Chinese economy.
He also expects that the recent reforms implemented in the chinese economy, will be good for its growth for the next five years, and that unless there is sytemic risk increase in the financial sector, the economy will do well, with a growth rate of between 7% or 8%.
Source: CCTV
In terms of the global economy he sees optimistic developments in the U.S. economy with greater growth
prospects, and a euro zone slow recovery, which are good for the Chinese economy.
He also expects that the recent reforms implemented in the chinese economy, will be good for its growth for the next five years, and that unless there is sytemic risk increase in the financial sector, the economy will do well, with a growth rate of between 7% or 8%.
Source: CCTV
