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China's Manufacturing PMI fell to 51.0 in January

Friday, Feb 03 2017
China's Manufacturing PMI fell to 51.0 in January

The Caixin China General Manufacturing PMI was 51.0 in January, down 0.9 points from the previous month and lower than the average level in the fourth quarter last year. The sub-indices for output and new orders both weakened sharply from those in the preceding month, while stocks of purchases and finished goods both slid into contraction territory.

Manufacturers appear to have become rather reluctant to restock. Input prices and output charges continued to rise rapidly, but at slower rates than in the previous month. The Chinese economy maintained stable growth in January. But the sub-indices showed that the current growth momentum may be hard to sustain. We must remain wary of downward pressures on the economy this year.

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