01 February 2013 03:32 [Source: ICIS news]
SINGAPORE (ICIS)--China’s purchasing managers’ index (PMI) for January dipped to 50.4% from 50.6 % in December, as new export orders declined, official data showed on Friday.
The new export order index slipped by 1.5 percentage points to 48.5% in January, according to the China Federation of Logistics & Purchasing (CFLP).
Manufacturing activities in China may have slowed slightly in January because of continued uncertainty in external demand, said an industry source.
China’s PMI is based on a survey of 3,000 manufacturers in the country. A PMI reading at above 50% suggests an expansion, while a reading below 50 means a contraction.
The decline in new export order offset the increases in the purchasing prices and raw material inventory indexes, which registered increases of 3.9 to 57.2% and 2.8 percentage points to 50.1% from December, according to CFLP data.
China’s new order index increased by 0.4 percentage points to 51.6% in January, but production index was at 51.3%, down by 0.7 percentage points from previous month, according to data from CFLP.
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