China’s Jan manufacturing PMI at lowest level since Aug 2012
January’s reading also fell below Reuters economists’ median forecast of 49.6 while plunging prices and overcapacity issues in key sectors such as steel and energy were cited as the reasons behind lower manufacturing output.
Meanwhile, another PMI gauge for China from Caixin China and Markit Economics rose to a reading of 48.4 in January from December’s 48.2. The January PMI exceeded economists’ estimates, which called for a reading of 48.
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