China’s Manufacturing Expansion Holds as Demand Picks Up, Caixin PMI Shows

Activity in China’s manufacturing sector continued to grow in January with a further recovery in demand, a Caixin-sponsored survey showed Thursday, marking the first time since May 2021 that the industry has expanded for three straight months.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the sector, came in at 50.8 in January, unchanged from the previous month. A reading above 50 signals an expansion in activity, while a number below indicates a contraction.

Caixin Manufacturing PMI Holds Steady