Man­u­fac­tur­ing pace falls to a 6-month low

China Daily (Canada) - - NEWS­CAP­SULE -

China’s man­u­fac­tur­ing ac­tiv­ity con­tin­ued to de­crease in Jan­uary, hit­ting a six-month low and adding to fur­ther con­cerns about China’s eco­nomic slow­down.

Data from China’s Na­tional Bureau of Statis­tics show that the bureau’s of­fi­cial Pur­chas­ing Man­agers’ In­dex (PMI) fell half a point to 50.5, down from 51 in De­cem­ber, ac­cord­ing to fig­ures re­leased on Satur­day, the se­cond day of the Lu­nar New Year hol­i­day. A read­ing over 50 in­di­cates an ex­pan­sion of the sec­tor com­pared to the pre­vi­ous month and a read­ing be­low 50 means a con­trac­tion. A read­ing of 50 re­flects no change.

The bureau said that the PMI is in line with mar­ket ex­pec­ta­tions, and was in­flu­enced by the hol­i­day, which be­gan on Fri­day, tra­di­tion­ally a time when man­u­fac­tur­ing ac­tiv­ity slows.

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