China's manufacturing activity contracted in January, with PMI dropping below growth threshold to 49.1.

China's manufacturing activity contracted in January, with the official Purchasing Managers' Index (PMI) dropping to 49.1, below the 50 threshold that indicates economic growth. The decline was attributed to the Lunar New Year holiday, causing a slowdown in factory activity. Meanwhile, the non-manufacturing PMI fell to 50.2, also showing weaker growth. Despite this, China's industrial profits saw an 11% increase in December, reversing a trend of three consecutive years of decline. However, full-year industrial profits still fell by 3.3% in 2024.

2 months ago
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