China’s official manufacturing purchasing managers index (PMI) fell to 50.5 in January from 51 in December, Beijing News reported Sunday, citing data from the National Bureau of Statistics and the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion. The HSBC Flash PMI, a private gauge of manufacturing activity, fell to 49.5 in January from 50.5 in December, its first contraction in the past six months. Some analysts attributed the dip to the effect of the Lunar New Year as January has been lower than December for PMI during the past five years, the report said.
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