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China’s PMI January 2024

China's National Bureau of Statistics confirmed the data for January of the composite Purchasing Managers' Index (PMI), which includes both manufacturing and non-manufacturing activities, at 50.9, up from the 50.3 recorded in the previous month, and above the 50-point threshold that separates growth from contraction.


China's official manufacturing PMI index stood at 49.2 in January, rebounding from a three-month decline that began in October 2023. As for non-manufacturing sector, which has been supporting the economic recovery so far, it reached 50.7 in December compared with 50.4 in December 2023.


Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.


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