Monday , June 21 2021

China / Indicators – strong growth in PMI-Caixin services



BEIJING, Feb. 3 (Reuters) – Key Chinese economic indicators released since the beginning of the month:

* SOLID GROWTH OF PMI IN JANUARY – CAIXIN

February 3 – Growth in the Chinese services sector remained stable in January despite a slight slowdown over the previous month due to the growth of the new business, according to results published on Sunday by the Caixin / Markit survey to buyers.

The Caixin / Markit Index of Services PMI was 53.6 last month after 53.9 in December, well above the threshold of 50 between shrinkage and expansion.

The new business growth reached 52.6 in January from 52.3 in the previous month.

For the composite index, which includes both services and industry, growth slowed, with the manufacturing sector shrinking to its lowest point since February 2016. It reached 50.9%. after 52.2 in December.

The service sector provides more than half of China's Gross Domestic Product (GDP).

* HIGH MANUFACTURING CONTRACT BY PMI MANUFACTURER 3 years ago – CAIXIN

February 1 – Chinese manufacturing activity experienced the sharpest contraction in January for almost three years as a result of the protracted delays in new orders and production, according to results released Friday by Caixin / Markit's survey of purchasing managers.

Production PMI, calculated by Caixin / Markit, declined for the second consecutive month, reaching 48.3 for the last month after 49.7 in December.

This is the biggest contraction since February 2016, while economists surveyed by Reuters expect a slight drop to 49.5, just below the threshold of 50 between shrinkage and enlargement.

This slowdown is due, in particular, to the alarming data observed in new orders, with index 47.3, the lowest since September 2015.

Due to the slowdown in demand, industrial production suffered its first contraction for 31 months.

* Indicators published in January (Economic Service)


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