China's manufacturing and services sectors weakened the most since early 2020 despite the abrupt abandonment of zero Covid policy in December amid public resistance, as the number of infections rise that prompted several countries to raise alerts and, bring back testing and protective measures. The official manufacturing Purchasing Managers' Index declined to 47.0 in December from 48.0 in the previous month, survey data published by the National Bureau of Statistics showed over the weekend. A score below 50.0 indicates contraction in the sector.
The production sub-index weakened by 3.2 percentage points to 44.6 in December. Demand also waned towards the end of the year, with the new orders index easing to 43.9.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.