The purchasing managers' index (PMI) for China's manufacturing sector came in at 47 in December 2022, down from 48 in November, data from the National Bureau of Statistics showed Saturday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The sub-index for large enterprises stood at 48.3 percent in December, down 0.8 percentage points from the previous month.

The sub-index for production stood at 44.6 in December, down 3.2 percentage points compared to the previous month. Demand in the manufacturing market also declined, with the sub-index for new orders dropping 2.5 percentage points from a month earlier to 43.9.

Saturday's data also showed that the PMI for China's non-manufacturing sector stood at 41.6 in December -- down from 46.7 in November.

(Cover via CFP)