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China’s Manufacturing Pace Slows Again
Manufacturing activity in China slowed in January for the sixth consecutive month, dropping to its lowest pace in more than three years, according to the government’s purchasing managers’ index.
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Manufacturing activity in China slowed in January for the sixth consecutive month, dropping to its lowest pace in more than three years, according to the government’s purchasing managers’ index.
The PMI declined to 49.4 in January from 49.7 in December. Any number below 50 indicates contraction. Last year China’s economy grew by a 25-year-low 6.9% compared with 7.3% in 2014.
The index’s indicators for new orders, production and exports all declined last month. The National Bureau of Statistics, which compiles the PMI, says output at large factories continues to expand as production among smaller plants falls.
The fading index is another indication of the ebb in China’s economic momentum, according to analysts. They say the measure also suggests that government efforts to stimulate growth have been able only to reduce the pace of decline.
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