Data from CFLP and State Statistics Bureau shows that China official PMI index falls to 50.4, lower than the expected index 50.4. PMI in December is 50.6.
Though manufacturing PMI pulled back slightly in January, it still remains a 14-month high of 50.0. It means that China manufacturing activity keeps expanding but the pace has slowed down.
The PMI is a gauge designed to provide a snap shot of the overall conditions in the manufacturing economy. PMI over 50 means manufacturing activity keeps expanding.
Written by Nicolas Yang