China’s PMI in January released: Significant rebounding of manufacturing industry’s prosperity

China’s Purchasing Manager Index (PMI) in January released by China Federation of Logistics and Purchasing (CFLP) and the Service Industry Survey Center of National Bureau of Statistics on January 31 shows that PMI of China’s manufacturing industry was 50.1%, back to the expansion interval. The manufacturing industry’s prosperity rebounded dramatically.


Manufacturing industry’s PMI in January was back to the expansion interval

PMI in January of China’s manufacturing industry was increased by 3.1% compared with that of last month, back to expansion interval after continuous 3 months at a level below 50%.

In January, the new order index increased by 7% significantly in comparison to last month, reaching 50.9%. With recovery of demands and gradually relaxed personnel flow, enterprises have gradually recovered production with an optimistic prediction. The expected production and operation activity index in January was 55.6%, 3.7% higher than last month.

From the perspective of industry, 18 of the 21 subdivided industries of manufacturing industry witnessed a rise of their PMI than last month and PMI of 11 industries was above 50%. From the angle of enterprise types, PMI of large, small and medium-sized enterprises rose, all of which featured higher economic vitality.

Post time: Feb-09-2023

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