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China’s manufacturing revives in January

by ChemOrbis Editorial Team - content@chemorbis.com
  • 26/01/2015 (13:11)
According to a preliminary purchasing managers’ index (PMI) compiled by HSBC, a gauge of Chinese manufacturing revived slightly in January following fresh stimulus measures. HSBC’s preliminary PMI climbed to a reading of 49.8 for January from a reading of 49.6 in December. Any figure below 50 indicates a contraction. Economists’ initial estimates called for a reading of 49.5 in a survey conducted by Bloomberg.

In 2014, the country’s economic expansion slowed to a 24-year low to post a growth rate of 7.4%. The deceleration in growth was attributed to weakness in manufacturing and trade as well as lower prices in the real estate sector.

According to media reports, China’s leadership is currently focused on avoiding a hard landing while adjusting to a “new normal” in which limitations on short term growth will be accepted for the sake of achieving more sustainable long-term expansion.
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