China official Jan manufacturing PMI swings to expansion mode at 50.1

SINGAPORE (ICIS)–China’s official manufacturing purchasing managers index (PMI) crossed to expansionary territory in January at 50.1, from a 34-month low of 47.0 in the previous month as the country relaxed its zero-COVID policy, official data showed on Tuesday.

A PMI reading above 50 indicates expansion, while a lower number denotes contraction.

The sub-index for large enterprises stood at 52.3 in January, up from 48.3 in December last year, while the production sub-index stood at 49.8, up from December’s 44.6 but remained in contraction mode, according to the National Bureau of Statistics (NBS).

China’s non-manufacturing PMI, which includes the services sector, surged to 54.4 in January, up from 41.6 in December.

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