FX.co ★ China RatingDog Composite PMI Edges Higher

The RatingDog China General Composite PMI experienced a slight uptick, reaching 51.3 in December 2025, up from November's four-month low of 51.2. This marks the seventh consecutive month of growth in private-sector activity. The modest improvement was primarily driven by stronger performance in the services sector and a renewed rise in manufacturing output. Despite this, the overall increase in new orders slowed to its weakest point in six months, largely due to a continued decline in export orders, which underscores persistent challenges in international demand. Employment trends remained negative, with firms continuing to reduce their workforce in response to mild capacity pressures and ongoing lackluster business optimism. On the pricing front, selling prices declined once more, as companies endeavored to stimulate demand in a competitive market, even as they faced slightly increased cost pressures.