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China HSBC Manufacturing PMI Dips Into Contraction

An index measuring manufacturing activity in China came in with a score of 49.6 in January, the latest survey from HSBC and Markit Economics revealed on Thursday - hitting a six-month low.

That was shy of forecasts for a score of 50.4 and down from the 50.5 reading in December.

A reading above 50 suggests expansion in a sector, while a score below 50 means contraction.

The manufacturing output index came in at 51.3 in January - easing from 51.4 in December to a three-month low.

"The marginal contraction of January's headline HSBC Flash China Manufacturing PMI was mainly dragged by cooling domestic demand conditions. This implies softening growth momentum for manufacturing sectors, which has already weighed on employment growth," said Hongbin Qu, Chief Economist, China and Co- Head of Asian Economic Research at HSBC.

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