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Key FactsChina's Factory Activity Shrinks, Economic Momentum Muted
Jan 31, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: dailysabah.com
Summary created with AI assistance · Source: dailysabah.com
- China's manufacturing activity shrank for the fourth consecutive month in January, indicating economic struggles.
- The official purchasing managers' index (PMI) rose to 49.2 in January, driven by a rise in output, but remained below the 50-mark for growth.
- January's new orders were at 49.0, contracting for the fourth month.
- The official non-manufacturing purchasing managers' index (PMI) rose to 50.7 in January from 50.4 in December, the highest since September last year.
China’s exports rise for the first time in six months, but won’t boost slump in the economy
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