China factory conditions weaken for 10th month: private survey

HONG KONG -- A private survey shows that Chinese manufacturing contracted for the 10th straight month in December as demand remained weak and factories trimmed staff and output.

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The Caixin/Markit index, based on a survey of factory purchasing managers, fell to 48.2 in December from 48.6 the previous month.

The index uses a 100-point scale with numbers above 50 indicating expansion.

It's the latest sign of the headwinds the world's No. 2 economy faces as a new year unfolds.

China's manufacturing industries are facing soft demand from customers as global growth remains weak.

A separate survey by an official group released Friday found factory activity ticked up slightly from its lowest level in three years but was still contracting.



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