In the past month, its value rose to 52.3 from 51.5 in December.
Recent data indicates improving conditions in the Chinese industrial sector for the third month in a row.
Commenting on the January PMI data for China’s industrial sector, Qu Hongbin, HSBC chief economist for China, said “The higher January reading of the PMI points to the fact that China’s manufacturing activity is gaining steam towards improving conditions in the domestic market.
“By maintaining this trend, we will see a revival of growth in the coming months: steady growth in investment driven by infrastructure projects; improving labour market conditions stimulating consumer spending; and the ongoing process of refilling storage in order to increase production. ”Source: chiny24 – “Styczniowy odczyt chińskiego PMI na najwyższym poziomie od 2 lat”
- China January PMIs signal mild recovery in place (chinadailymail.com)
- China factories in mild rebound amid patch Asia recover (Reuters) (newsdaily.com)
- China factories in mild rebound amid patch Asia recover (news.yahoo.com)
- China’s Service Activity Expanded In January: HSBC PMI (ibtimes.com)