01 February 2012 03:14 [Source: ICIS news]
SINGAPORE (ICIS)--China’s purchasing managers index (PMI) rose to 50.5% in January, indicating a rebound in manufacturing and new orders despite the eurozone debt crisis, industry analysts said on Wednesday.
The new orders index rose by 0.6 percentage points from December to 50.4% while the production index was up slightly by 0.2 percentage points from the previous month.
“The increasing new orders and production index reflect stable-to-firmer domestic industry production,” said Zhang Liqun, an analyst from CFLP.
However, both import and export indexes were at 46.9% in January, a decline of 2.2 percentage points and 1.7 percentage points respectively from December, CFLP said.
“Demand from international markets were still soft because of the continued recession in the eurozone. We should pay more attention to the changes from overseas,” said Zhang.
The PMI, which is a measurement of the monthly performance of China’s factories, is based on a survey of 820 manufacturers across 20 industries. A figure above 50% indicates an expansion, while a figure below 50% indicates a contraction.
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