China’s factories saw business activity fall in January, according to the official manufacturing purchasing managers’ index (PMI) released by the National Bureau of Statistics. The monthly gauge came in at a reading of 49.4, down from 49.7 in December and below the 50-point mark delineating sector growth from contraction. Meanwhile, the statistics bureau reported an official non-manufacturing PMI (covering services) for January of 53.5, still well above the 50-point mark, but down from the yearly high of 54.4 seen in December. New order sub-indices for both gauges entered contractionary territory in January, while employment sub-indices remained there from the previous month.
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