China’s December factory activity growth misses expectations [Video]

China’s factory activity growth in December missed analysts’ expectations Tuesday, signaling that Beijing’s stimulus measures were not sufficient to meaningfully boost the country’s ailing economy.

The country’s official purchasing managers’ index for December came in at 50.1, data released by the National Bureau of Statistics data showed.

The reading missed Reuters’ expectations of 50.3. Manufacturing activity came in 50.3 in November and 50.1 in October. A PMI reading above 50 indicates expansion in activity, while a figure below that points to contraction.

Production and new orders for sectors including agricultural and sideline food processing, general equipment and food and beverages rose, the National Bureau of Statistics said.

China’s non-manufacturing PMI, which measures activity in the services and construction industries, rose to 52.2 in December, compared to 50.0 the month before.

Out of the 21 industries surveyed, 17 logged higher activity than the month before, including aviation, transportation and telecommunications. The construction industry also returned to expansion, lifted by upcoming Spring Festival holidays.

“I think one of the reasons last month …