China Caixin PMI Manufacturing ticked up from 49.0 to 49.2 in January. Caixin noted there were softer falls in output and new orders. Supply chain pressures eased. Confidence around the outlook hit the highest level since April 2021.
Wang Zhe, Senior Economist at Caixin Insight Group said: “Overall, the pandemic continued to take a toll on the economy in January. Supply and demand weakened, overseas demand was sluggish, employment declined, and logistics hadn’t fully recovered, while the quantity of purchases shrank, inventories dropped, and manufacturers faced growing pressure on profitability. But optimism in the sector continued to improve as businesses expected a post-Covid economic recovery.”
