Manufacturing PMI and Non-manufacturing PMI to Continue Picking Up

SHANGHAI, Feb 1 (SMM) - In January, China's manufacturing PMI rose to 50.1%, back to the expansion territory as the production and social activities gradually returned to normal after the lift of covid-19 restriction. In fact, both supply and demand of manufacturing sector saw a palpable recovery in January. The index for production was 49.8%, up 5.2 percentage points from the previous month, while the index for new orders stood at 50.9% up 7 percentage points on the month. In terms of non-manufacturing sector, the index for business activities was 54.4%, an increase of 12.8 percentage points from the previous month. CITIC Securities points out that with more favourable policies introduced in the future, the manufacturing PMI and non-manufacturing PMI will continue to pick up.