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January manufacturing PMI shows further Chinese contraction
China抯 factories saw business activity fall in January, according to the official manufacturing purchasing managers' index (PMI) released by the National Bureau of Statistics.
The monthly gauge came in at a reading of 49.4, down from 49.7 in December and below the 50-point mark delineating sector growth from contraction.
Meanwhile, the statistics bureau reported an official non-manufacturing PMI (covering services) for January of 53.5, still well above the 50-point mark, but down from the yearly high of 54.4 seen in December.
New order sub-indices for both gauges entered contractionary territory in January, while employment sub-indices remained there from the previous month.
The monthly gauge came in at a reading of 49.4, down from 49.7 in December and below the 50-point mark delineating sector growth from contraction.
Meanwhile, the statistics bureau reported an official non-manufacturing PMI (covering services) for January of 53.5, still well above the 50-point mark, but down from the yearly high of 54.4 seen in December.
New order sub-indices for both gauges entered contractionary territory in January, while employment sub-indices remained there from the previous month.
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