China’s manufacturing sector declines

Gulf Today Report 

For the second time in January, China’s manufacturing sector declines due to new COVID-19 outbreak.

The purchasing manager’s index or PMI for the manufacturing sector fell by 51. 3 in January down 0.6 per cent from December, according to National Bureau Statistics data. 

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New virus cluster is spreading fast in China, leading to the government imposing tight restrictions.

NBS senior statistician Zhao Qinghe said that locally transmitted coronavirus cases had affected the operations of certain industries and that January is typically off-season for factories due to the Lunar New Year holidays.

The PMI for China’s non-manufacturing sector came in at 52.4 in January, down from 55.7 in December, according to NBS.