China's manufacturing activity continued to shrink
2022-10-23- Detail
In January, China's manufacturing activity continued to shrink
in January this year, China's manufacturing activity contracted for the second consecutive month, which is another sign of China's positive adjustment to the new normal of slower economic growth
HSBC said that the preview purchasing managers' index (PMI), which tracks China's manufacturing industry, read 49.8 in January, slightly higher than 49.6 in December 2014. When the index is below 50, it indicates that industrial activity is contracting. Before this round of contraction lasting for two months, the experimental machine industry made in China, which can meet my requirements, expanded for six consecutive months
previously, economists expected the annual total capacity of Baling Petrochemical SEBS to be expanded to 20000 tons and 40000 tons, respectively, with 49.5 tons
Quhongbin, an economist at HSBC, said: China's domestic demand has only improved slightly, while external demand remains strong. The labor market has weakened further and labor prices have fallen further. Today's data shows that due to weak domestic demand, the growth of manufacturing industry often needs to rely on experience to judge that it is still slowing down. In the following months, China needs more monetary and fiscal easing policies to support growth with the improvement of technologyusually, the monthly preview reading is based on 85% to 90% of all PMI survey respondents
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