China manufacturing sector contracts again in JanuaryStaff Writer | February 1, 2019
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) inched up from 49.4% in December to 49.5% in January.
Asia January’s reading reflected a slight increase in output
January’s reading reflected a slight increase in output, while new orders dipped to an over two-year low.
Although export orders—a proxy for global demand—improved in January, it remained below the 50.0%-mark for the eight-consecutive month.
Subdued manufacturing books prompted job creation to decline in January.
Inventories of raw materials improved in January, whereas the supplier delivery time sub-index declined slightly.
Input prices—a reliable leading indicator for inflation—partially recovered from the large decline in December when a fall in oil prices dragged on the sub-index. ■