China's manufacturing PMI down in January
The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.1 in January, down from 50.3 in December 2021, data from the National Bureau of Statistics (NBS) showed Sunday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
Expansion of the industry slowed in January as some sub-sectors entered a traditional off-peak period and market demand contracted, said NBS senior statistician Zhao Qinghe.
In January, the sub-index measuring purchase prices of major raw materials rose 8.3 percentage points from December 2021 to 56.4. The sub-index for prices at the factory gate was 50.9, up 5.4 percentage points from last month.
The sub-index for production reached 50.9, down 0.5 percentage points from last month but has remained in the expansion area for three consecutive months.
Sunday's data also showed that the PMI for China's non-manufacturing sector came in at 51.1 in January, down from 52.7 in December.