Chinese industry still growing but the pace slows down

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The activity in the large Chinese industry grew slightly less in January. This is according to figures from research agencies Markit and Caixin. The data do not yet include the impact of the outbreak of the new corona virus in the country.

The purchasing managers’ index was 51.1 last month, compared to 51.5 a month earlier. A position of 50 or more indicates growth, below which shrinkage. Economists generally calculated at a level of 51.0. The Chinese government released its own procurement managers index for the industry in January in January. He recorded a score of 50 against 50.2 in December.

Economists expect that the macroeconomic figures from China will deteriorate sharply in the coming period due to the corona virus. Elsewhere in Asia there were figures about the industry. Industrial activity in South Korea, Malaysia, Japan and Vietnam, for example, appeared to have weakened last month. There was improvement in India and Taiwan.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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