Manufacturing PMI Declines to 49.1% in January, NBS Data Shows

[National Bureau of Statistics (NBS): Manufacturing PMI in January Was 49.1%, Down 1.0 Percentage Point from the Previous Month]

Data from the National Bureau of Statistics (NBS) showed that in January, the manufacturing PMI was 49.1%, down 1.0 percentage point from the previous month, indicating a pullback in the manufacturing sector's activity level. In January, the non-manufacturing business activity index was 50.2%, down 2.0 percentage points from the previous month but still above the threshold, indicating that the non-manufacturing sector overall remained in expansion. In January, the composite PMI output index was 50.1%, down 2.1 percentage points from the previous month, reflecting that China's overall economic output continued to expand.