China’s Jan PMI increases for sixth month, at a slower pace
The PMI was at a slightly lower reading of 51.3 in January from 51.4 in December but still stable due to a record high increase in bank lending as well as a construction boom. Any figure above 50 represents an expansion while any figure below 50 shows a contraction. The PMI figure also slightly beat the analysts’ expectations which called for a reading of 51.2 in January.
The country’s non-manufacturing PMI was slightly up to 54.6 in January from 54.5 in December.
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