China Caixin PMI for January shows mainland`s continued economic recovery slows

by Dramelin 8:00 PM 0 comments

The China Caixin manufacturing purchasing managers` index (PMI) for January slowed from December, missing a Reuters poll forecast, but continued to show the mainland`s economy was recovering. "The rate of improvement slowed since December, as output and new orders increased at weaker rates amid a further reduction in employment," the Caixin PMI statement said on Friday. The reading came in at 51.0 in January, down from December`s 47-month record of 51.9 and below a Reuters` poll forecast for 51.8. "At the same time, inflationary pressures remained sharp, with both input costs and output charges increasing at rates scarcely seen throughout the past five years. A reading above 50 indicates expansion, while a reading below signals contraction.