(Yicai Global) Jan. 4 -- One of the two main gauges of manufacturing activity in China ticked up for an eighth month in row in December, as the country’s economic rebound from the coronavirus rolls on.

The Caixin purchasing managers' index for manufacturing registered 53 last month, according to data financial media outlet Caixin published today. That was lower than November’s 54.9, which was the highest level in a decade.

“We expect the economic recovery in the post-epidemic era to continue for several months,” Wang Zhe, senior economist at Caixin Insight Group, said in a statement. “Macroeconomic indicators will be stronger in the next six months.” 

The Caixin PMI, also known as the Caixin-Markit PMI, surveys 500 manufacturers that are typically smaller and privately owned. A reading above 50 signals expansion.

The PMI for manufacturing that China’s National Bureau of Statistics issued on Dec. 31 also slowed from November. The official PMI, which tracks mostly large state firms, came in at 51.9, down from 52.1. December’s reading marked the 10th consecutive month of gains.

Editor: Ben Armour