Manufacturing PMI Below Neutral Mark

In a recent update from China's National Bureau of Statistics (NBS), the official manufacturing Purchasing Managers' Index (PMI) for January was reported at 49.1. This figure is below the neutral 50 mark, indicating a contraction in the manufacturing sector. The previous month's figure stood at 50.1, showing a slight decrease in manufacturing activity.

Non-Manufacturing and Composite PMI Also Decline

The non-manufacturing PMI, which gauges business sentiment in the services and construction sectors, also saw a decrease, standing at 50.2 compared to the previous 50.1. Similarly, the official composite PMI, encompassing both manufacturing and services, fell to 50.1 from last month's 52.2, signaling a slowdown in overall economic activity.