China's manufacturing PMI up in January
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E-mail Xinhua, January 31, 2023
Robots conduct welding work at the workshop of an automobile manufacturing factory in Qingdao, east China's Shandong Province, Jan. 14, 2023. (Photo by Zhang Jingang/Xinhua)
BEIJING, Jan. 31 (Xinhua) -- The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.1 in January, up from 47 in last December, data from the National Bureau of Statistics showed Tuesday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
The sub-index for large enterprises stood at 52.3 in January, up 4 percentage points from the previous month.
Demand in the manufacturing market also rebounded, with the sub-index for new orders gaining 7 percentage points from a month earlier to 50.9.
The sub-index for production stood at 49.8, up 5.2 percentage points from last December, the data showed. ■
