China's manufacturing index falls in January, show govt figures
BEIJING (AFP) - China's official gauge of its manufacturing sector slipped to a five-month low in January, the government announced on Saturday, confirming a slowdown in factory activity in the world's second-largest economy.
The monthly purchasing managers' index (PMI) declined to 50.5 in January after recording 51 in December and 51.4 in November, according to the government's National Bureau of Statistics and the China Federation of Logistics and Purchasing.
Any figure above the 50 mark indicates expansion of manufacturing activity while anything below that signals contraction.
All major components of the PMI index, from new orders to production, declined, indicating downward pressure on the economy, state news agency Xinhua reported.