"Chinese Factory Activity Contracts for Third Consecutive Month in December"
China's manufacturing activity contracted in December, marking the third consecutive month of decline, as indicated by the official purchasing managers index (PMI) falling to 49. Despite government efforts to stimulate the economy through increased spending on infrastructure, interest rate cuts, and easing housing market restrictions, weak demand continues to challenge growth. While the non-manufacturing PMI saw a slight increase, the service sector remains unchanged, and the construction industry shows expansion. This manufacturing slowdown reflects broader global economic challenges, including reduced demand for goods and the impact of higher interest rates worldwide.