China's non-manufacturing PMI shows strong rebound in December

China

China's non-manufacturing PMI shows strong rebound in December

2024-12-31 10:39 Last Updated At：18:57

China's purchasing managers' index (PMI) for non-manufacturing sector saw a remarkable rebound in December 2024, indicating a significant improvement in both supply and demand in the non-manufacturing sector and adding momentum to the country's stable economic growth.

The non-manufacturing PMI rose to 52.2 in December, up from 50 in November, indicating a significant improvement in the non-manufacturing sector, official data showed on Tuesday.

The average non-manufacturing PMI in the fourth quarter came in at 50.8, up 0.6 percentage points from the third quarter, the data showed.

The service sector sub-index stood at 52 in December, an increase of 1.9 percentage points from the previous month, marking the highest level since April. This indicates accelerated expansion in the service sector.

"Of the 21 industries surveyed, 17 saw an increase in their business activity index compared to the previous month, indicating an universal sentiment recovery in this sector. Notably, the business activity indexes for air transport, telecommunication, broadcast, television and satellite transmission services, monetary and financial services, and insurance rose to a boom range of above 60, leading to a rapid overall business expansion," said Huo Lihui, head of the business climate survey division at the Service Survey Center of the National Bureau of Statistics.

In addition, the business activity index rose to 53.2 in December, up 3.5 percentage points from the previous month, as some enterprises accelerated their construction progress due to factors such as the upcoming Spring Festival holiday.

"Generally speaking, with the implementation of a host of policies in December, the non-manufacturing sector has continued to show a more positive change. Both investment and consumption are improving, and there are visible signs of positive impacts on different parts of the economy. Market sentiment is on a clear upward trend," said Liu Yuhang, director of the China Logistics Information Center.

Protesters rally in Italy, Greece against U.S. military operation in Venezuela

Thousands of demonstrators rallied in Italy and Greece on Saturday to protest against U.S. military intervention in Venezuela, with protesters in Rome, Milan and Athens condemning Washington's actions and calling for respect for Venezuelan sovereignty.

In Rome, more than 1,000 demonstrators marched toward the area near the U.S. Embassy, calling on Washington to immediately release Venezuelan President Nicolas Maduro and his wife.

Police blocked roads around the embassy to prevent protesters from approaching the building, but demonstrators continued to denounce U.S. actions.

"First of all, we oppose U.S. imperialist aggression. This kind of behavior is shameful. The U.S. is attacking a sovereign country, and as [U.S. President Donald] Trump himself has said, this is for oil interests," said protester Giovanni Barbera.

Saturday's rally marked the second large-scale protest in Rome this month against U.S. military operations in Venezuela, following an earlier one on on Jan 3.

Participants included members of multiple political parties, labor unions and social organizations. The protesters held banners reading "Stop imperialist interference" and "Free Maduro," urging the international community to respect Venezuela's sovereignty and the will of its people, and condemning the U.S. for violating international law.

"We are protesting the way the U.S. handles international politics. Since the events of January 3, we have seen violations of international law, and we are very concerned about how the global situation is developing," said protester Stefano De Angelis.

Organizers said solidarity rallies in support of Venezuela were held in 30 Italian cities on the same day.

Meanwhile, similar protests were also staged in Greece. About 200 people gathered outside the U.S. Embassy in Athens, voicing support for Venezuela and opposition to U.S. military actions.

"We oppose U.S. imperialism and its attack on Venezuela. At the same time, the U.S. is also threatening Cuba, Mexico and Greenland. We must stand up against this behavior," said Greek protester Argiro Sirmakezi.