According to statistics provided by the National Bureau of Statistics on Wednesday, the official manufacturing purchasing managers’ index increased little to 49.2 in January, which was in line with the median expectation in a Reuters survey.
According to NBS, the official non-manufacturing managers’ index increased from 50.4 in December to 50.7 in January.
On July 3, 2018, Renminbi banknotes were set up for photographing in Hong Kong.
January saw a fourth consecutive month of declines in manufacturing activity in China, highlighting the urgent need for policy support for the country’s economy, which is the second largest in the world, as Beijing stated last week.
The official manufacturing purchasing managers’ index increased little from 49 in December to 49.2 in January, according to information issued on Wednesday by the National Bureau of Statistics. It was consistent with the Reuters poll’s median prediction.
According to NBS, the official non-manufacturing managers’ index increased from 50.4 in December to 50.7 in January. A downturn in the real estate market was partially offset by strength in the nation’s services sector, which also contributed to the construction sector’s deterioration.
A PMI rating above 50 denotes a rise in activity, whereas one below that threshold denotes a decline.
While production climbed by 1.1 percentage points, new orders increased modestly among the five sub-indices of the manufacturing PMI.
In December, employment in the manufacturing and non-manufacturing sectors both slightly decreased.
Included in the non-manufacturing PMI, the business activity index for the construction sector was 53.9, indicating a 3.0 percentage point decline.