January Manufacturing PMI 50.8, In Line with Market Expectations
The privately surveyed manufacturing business index in China has recorded expansion for three consecutive months.
On the 1st, Chinese economic media Caixin reported that the manufacturing Purchasing Managers' Index (PMI) for January was 50.8. This matches the market expectation (50.8) and is the same figure as the previous month (50.8).
The Caixin manufacturing PMI is based on a survey of purchasing and HR managers at manufacturing companies. A result above 50 indicates economic expansion, while a figure below 50 indicates contraction.
The day before, China's National Bureau of Statistics announced that the official manufacturing PMI for January was 49.2, slightly below the forecast (49.3). China's official manufacturing PMI had not surpassed the baseline since March last year, briefly showing expansion at 50.2 in September after six months. However, it fell again to 49.5 in October, followed by 49.4 in November and 49.0 in December, showing a sluggish trend.
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