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China’s Jan PMI increases for sixth month, at a slower pace

by ChemOrbis Editorial Team -
  • 01/02/2017 (05:01)
According to data released by China’s National Bureau of Statistics, the country’s official manufacturing Purchasing Managers’ Index (PMI), which measures large state-owned enterprises, increased for the sixth month in a row but 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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