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Jan. manufacturing PMI at 49.4, services PMI at 53.5

CCTV.com

02-01-2016 11:20 BJT

Chinese manufacturing activities slowed down in January while services were still in expansion. Data released by the National Bureau of Statistics showed that manufacturing Purchasing Manager Index came in at 49.4 in January, below the 50 threshold separating expansion from contraction.

The January data is down from 49.7 in December. Experts say seasonal factors such as the New Year Holiday and the upcoming Chinese Spring Festival have contributed to the drop. The index is also at its lowest level since August 2012, indicating a continued downward pressure. On the other side, services PMI stands at 53.5 in January, down from 54.4 in December but still above the 50 line. Now, let's hear from Zhao Qinghe, senior statistician from the NBU and Cai Jin, vice president of the China Federation of Logistics and Purchasing.

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