China’s PMI January 2023

According to the latest data from the National Bureau of Statistics, the purchasing managers' index (PMI) for China's manufacturing sector expanded for the first time in four months to 50.1 in January, after reaching 47 in December. A reading above 50 indicates expansion, while a reading below reflects contraction.

The sub-index for large enterprises remained in the expansion zone at 52.3 in January, up 4 percentage points from the previous month. The sub-reading for production and new orders came in at 49.8 and 50.9, respectively.

Firms anticipate manufacturing activities to pick up in the near term, with the sub-index for production and business expectations at 49.8 in January versus 44.6 a month earlier.

The data also showed the PMI for China's non-manufacturing sector came in at 54.4 in January after 41.6 in December.