MNI: China Caixin Jan Manufacturing PMI Falls to 3-year low

     BEIJING (MNI) - The Caixin China manufacturing Purchasing Managers Index

(PMI) fell 1.4 to 48.3 in January, a 35-month low, in another sign that factory

activities in China are slowing.

     New orders, which indicates future activity level, fell for a second

consecutive month at a faster pace, mainly due to the sluggish domestic demand,

Caixin said in a statement. 

     However, new export orders edged into expansionary territory, ending a

9-month decline and marking the highest level since April 2018. Many surveyed

manufacturers noted that overseas demands have recovered, due to the truce of

Sino-U.S. trade war.

     The manufacturing industry's confidence in the business outlook for the

next 12 months rebounded to an eight-month high, Caixin said. Some manufacturers

expect new products and expansion plans to boost output in the coming year,

though they remain concerned about weak demand.

     The Caixin figure reversed the upward trend of the official PMI. The PMI as

reported by the National Bureau of Statistics Thursday edged up to 49.5 from

49.4 in December.

     The Caixin PMI tracks small and medium sized manufacturers that are not

surveyed by NBS.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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