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BEIJING - HSBC's China Purchasing Managers' Index?(PMI) fell to a three-month low in December as output and new orders both eased, but the country's vast manufacturing sector continued to expand strongly towards the year-end, Reuters reported Thursday.
The index, which is designed to provide an early indication of conditions in a broad range of industries, dipped to 54.4 from 55.3 in November but remained above the long-run series average of 52.3, according to the report.
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A reading above 50 indicates expansion on the month, while?a figure below 50 denotes contraction, the report said.
The PMI also showed that inflationary pressure remained elevated in December, though had perhaps peaked, it added.