China's manufacturing contracts for 4th month in January
China's manufacturing activity contracted for a fourth straight month in January.
China's manufacturing activity contracted for a fourth straight month in January as the global economic downturn takes a toll on the country's economy.
But the manufacturing also showed improvement for a second consecutive month following a series of government policies to support the weakening economy.
The Purchasing Managers' Index (PMI) of China's manufacturing sector rose to 45.3 percent from 41.2 percent in December and a record low of 38.8 percent in November, the China Federation of Logistics and Purchasing (CFLP) said Wednesday.
A reading above 50 percent suggests expansion, while one below 50 percent indicates contraction.