China’s January Factory Activity PMI Rebounds

Photo credit Xinhua

China’s factory activity rebounded in January, expanding for the first time since September 2022, official data showed on Tuesday, as the “exit wave” from zero-COVID passed through the population and production lines faster than expected.

The official manufacturing purchasing managers’ index (PMI) stood at 50.1, compared with a reading of 47.0 in December, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll had expected the PMI to come in at 49.8.

The 50-point mark separates contraction from growth, Reuters cited.

Non-manufacturing activity follows

Following suite, the nation’s non-manufacturing activity broke into expansion territory for the first time since September 2022, official data showed on Tuesday, as consumption and travel recovered over the Lunar New Year holiday after the lifting of pandemic curbs.

The official non-manufacturing purchasing managers’ index (PMI) for January stood at 54.4 versus 41.6 in December, above the 50-point mark that separates expansion from contraction on a monthly basis, according to National Bureau of Statistics data.

The official composite PMI, which includes both manufacturing and services activity, stood at 52.9 compared with 42.6 in December.

Previous articleJapan’s Retail Sales Beat Forecasts, Factory Output Inches Down In Dec
Next articleSelangor Dispersed RM750 Million Benefitting Over 57,000 Entrepreneurs

LEAVE A REPLY

Please enter your comment!
Please enter your name here