MNI BRIEF: China Jan Manufacturing PMI Remains in Contraction
China's manufacturing Purchasing Managers' Index rose by 0.2 points to 49.2 in January, remaining in the contractionary zone below the breakeven 50 mark for the fourth month, but ending three consecutive months of decline, data from the National Bureau of Statistics showed Wednesday.
The production sub-index accelerated by 1.1 points to 51.3 from the previous month, while the new orders sub-index also quickened by 0.3 points to 49.0. External demand also improved with the new export orders sub-index rebounding by 1.4 points to 47.2.
Non-manufacturing PMI registered 50.7, rising from last month's 50.4. The business activity index in the service sector increased by 0.8 points to 50.1 as the New Year holiday helped boost travel and spending, the NBS said.