The Caixin manufacturing purchasing managers’ index (PMI) slumped to 48.3 in January from 49.7 in December, meaning Chinese manufacturing sector activity contracted for the second month in a row, and at a faster speed than the month before. Photo: Xinhua

China factory outlook darkens due weak domestic demand, but how will Beijing respond?

  • The Caixin manufacturing purchasing managers’ index (PMI) dropped to a three-year low, with sector contraction deepening
  • Trade deal between the administrations of President Xi Jinping and American counterpart Donald Trump seen as important to halt slowdown
Topic |   China economy

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The Caixin manufacturing purchasing managers’ index (PMI) slumped to 48.3 in January from 49.7 in December, meaning Chinese manufacturing sector activity contracted for the second month in a row, and at a faster speed than the month before. Photo: Xinhua
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On Thursday, the official PMI rose to 49.5 from 49.4 in December. This was higher than the expectations of a group of analysts polled by Bloomberg, which had predicted that it would dip slightly to 49.38. Photo: Reuters

Bad start continues for China economy as private data shows manufacturing activity weakest since 2016

  • The Caixin Purchasing Managers’ Index (PMI) fell to 48.3 in January from 49.7 in December, the lowest since February 2016
  • On Thursday, the official PMI rose to 49.5 from 49.4 in December, but both indexes signal contraction in factory activity
Topic |   China economy

TOP PICKS

On Thursday, the official PMI rose to 49.5 from 49.4 in December. This was higher than the expectations of a group of analysts polled by Bloomberg, which had predicted that it would dip slightly to 49.38. Photo: Reuters
READ FULL ARTICLE