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Economy And The Numbers

China's Manufacturing Sector Growth Moderates In January

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

China's manufacturing sector expanded at the slowest pace in seven months in January amid a slowdown in output and new orders growth, survey results from IHS Markit showed Monday.

The Caixin manufacturing Purchasing Managers' Index fell to 51.5 in January from 53.0 in December. A reading above 50 indicates expansion.

The slowdown in manufacturing is not surprising given that output was already well above trend - capacity utilization rates in industry hit an eight-year high last quarter, Julian Evans-Pritchard and Sheana Yue, economists at Capital Economics, said. Despite the slowdown, activity will remain strong in the near-term.

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