China National Bureau of Statistics (NBS) data January PMIs
Manufacturing
expected 50.1, prior 50.1prior 52.2
Composite
prior 52.2Background to this is that from July to December 2024 (ie H2 2024), China's manufacturing sector experienced fluctuations, moving from contraction to modest expansion, while the non-manufacturing sector showed a similar pattern, culminating in a significant rebound in December.
July 2024: The manufacturing PMI stood at 49.4, a slight decrease of 0.1 from June, indicating a marginal contraction in manufacturing activity.
September 2024: The PMI improved to 49.8, approaching the expansion threshold but still indicating a slight contraction.
November 2024: The PMI increased to 50.3, marking the highest reading since April and indicating a continued expansion in the manufacturing sector.
Non-Manufacturing PMI:
August 2024: The index declined to 49.6, signaling a contraction in non-manufacturing activities.
October 2024: The index decreased to 50.6, indicating a slower pace of expansion.
December 2024: The index rose to 52.2, reflecting a notable recovery and expansion in the non-manufacturing sector.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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