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Factory Activity Growth Hits Eight-Month Low in January

Workers step up production of red lanterns at a factory in Yuncheng, Shanxi province, on Tuesday. While the official manufacturing purchasing managers index (PMI) declined for the second straight month in January, the official nonmanufacturing PMI rose for the third month in a row. Photo: VCG
Workers step up production of red lanterns at a factory in Yuncheng, Shanxi province, on Tuesday. While the official manufacturing purchasing managers index (PMI) declined for the second straight month in January, the official nonmanufacturing PMI rose for the third month in a row. Photo: VCG

Expansion in China’s manufacturing activity hit an eight-month low in January, although a new index showed overall output maintained a stable increase as the service and construction sectors continued to gain momentum, official data showed on Wednesday.

The official manufacturing purchasing managers index (PMI) declined for the second straight month in January to 51.3, the lowest reading since May, according to figures from the National Bureau of Statistics (NBS). A number above 50 indicates that activity expanded, while anything below that signals it contracted.

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