China's January factory activity rebounds slightly

Workers weld magnetic separation equipment for export to Africa at the factory of the Slon Magnetic Separator Co Ltd in Ganzhou, Jiangxi province, on Jan 23, 2024. [Photo/VCG]

China's January factory activity improved marginally but still indicated contraction for a fourth consecutive month, while non-manufacturing activities expanded at a faster pace, an official survey showed on Wednesday.

China's official purchasing managers index for the manufacturing sector rose to 49.2 in January from 49 in December, according to the National Bureau of Statistics, below the 50-point level demarcating contraction in activity from expansion. 

The sub-index for production rose to 51.3 in January from 50.2 in December, while the gauge for new orders improved to 49 from 48.7 a month earlier, the NBS said. 

Zhao Qinghe, an NBS statistician, said manufacturers expressed optimism and confidence with the gauge for manufacturers' expectations for their production and operation standing at 54 in January. 

China's non-manufacturing PMI came in at 50.7 in January, up from 50.4 a month earlier. Also, the country's official composite PMI, which includes both manufacturing and non-manufacturing activities, came in at 50.9 in January compared with 50.3 in December, according to the NBS. 

ouyangshijia@chinadaily.com.cn