KBND - China: January PMI Edged Up But Remained In Contraction
2024-01-31 11:30:00 ET
Summary
- Manufacturing PMI data came in slightly below forecasts, indicating a soft start to the year.
- The Chinese manufacturing sector remains under pressure amid a weak domestic recovery and poor external demand. The manufacturing PMI has been under 50 for 9 of the past 10 months.
- China’s post-Covid economic recovery has been uneven, with a significant divergence seen in the trajectory of different-sized enterprises.
By Lynn Song , Chief Economist, Greater China
PMI edged up slightly, showing a smaller contraction
We got our first look at China’s 2024 activity data with the January manufacturing PMI. The headline number of 49.2 was slightly weaker than our forecast of 49.5, but trended in the expected direction, up from 49.0 in Dec 2023....
China: January PMI Edged Up But Remained In Contraction