China’s industrial PMI rose in January

31-01-2019 Media in Beijing
China’s Industrial PMI (PMI) for January registered 49.5 points, up slightly from 49.4 in December, according to the latest data from China’s National Bureau of Statistics.
Zhao Qinghe, chief statistician of the National Bureau of Statistics (NBS), said in a statement that the slight increase ended a series of monthly decline recorded during the previous four months in a row.
PMI, a large-scale monitoring index, represents a business-specific survey of the industry around the operating environment. A reading above 50 indicates expansion in the sector, while reading below 50 represents contraction of the sector.
At the same time, China’s non-manufacturing sector saw a rise in January. The Non-Manufacturing PMI rose to 54.7 in January from 53.8 in December, a figure that represents a real recovery.
The National Bureau of Statistics said that the approaching Chinese Spring Festival / New Year led the expansion of related industries such as total sales, transportation and tourism.
The fast-growing services sector accounts for more than half of China’s economy and has helped ease the impact of slower manufacturing.
The data also showed that composite PMI, which covers manufacturing and service activities, rose to 53.2 in January from 52.6 in December.