[Breaking] China January Manufacturing PMI 50.1... Rebounds After 4 Months
[Asia Economy Beijing=Special Correspondent Kim Hyunjung] China's manufacturing business index rebounded after 4 months.
On the 31st, the National Bureau of Statistics of China announced that the Manufacturing Purchasing Managers' Index (PMI) for January recorded 50.1. This figure surpasses both the previous month's figure (47.0) and experts' forecast (49.8). It also marks a rebound after a continuous decline since peaking at 50.1 in September last year, recovering after 4 months.
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The manufacturing PMI is compiled by surveying purchasing managers from over 700 manufacturing companies nationwide on five categories: new orders, production, shipments, inventory, and employment. If the index is above the baseline of 50, it indicates an expansion phase of the economy; if below 50, it indicates a contraction phase. The announced figure exceeding the baseline is also the first time in 4 months since September last year.
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