China Manufacturing Sector Crawls into January
On Thursday, the Chinese economy was under the spotlight. Disappointing NBS private sector PMI numbers for January impacted riskier assets on Tuesday. However, the Caixin Manufacturing PMI has more weight.
The Caixin Manufacturing PMI remained at 50.8 in January. Economists forecast a decline to 50.6. According to the January survey,
- New business increased at the least marked pace since October 2023.
- Overseas demand rose for the first time since June 2023, albeit marginally.
- Manufacturers responded to the pickup in overseas demand, ramping up purchasing activity.
- Firms reduced workforce numbers, though the rate of decline was the weakest in five months.
- Input…
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