China notched a 6.7 percent full-year expansion last year, with growth quickening to 6.8 percent in the last quarter. Early private indicators for January, such as readings based on satellite views, suggest manufacturing remained robust into 2017. The slight pullback from December may have much to do with seasonal effects as the week-long Lunar New Year holiday typically weighs on the manufacturing reading in January and February. This year, the holiday started Jan. 27, shutting factories across the nation.
China's Manufacturing PMI little changed in January
China’s official factory gauge started the new year on a robust note, giving policy makers a buffer to transition to neutral policy settings as they prepare for potential trade tensions with a Donald Trump-led White House. Manufacturing purchasing managers index was 51.3 in January, compared with a median estimate of 51.2 in a Bloomberg survey of economists and 51.4 in December. Non-manufacturing PMI was at 54.6 versus 54.5 in December. Numbers higher than 50 indicate improving conditions.
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