China January Manufacturing PMI Records a Decline

China’s official manufacturing PMI for January fell to 49.3, signaling weakening factory activity at the onset of the new year. The decrease from 50.1 in December fell below the growth threshold of 50, primarily impacted by “weak domestic demand.” The Reuters poll forecast of 50.0 missed the mark, showing a downward trend in new orders and export orders. New orders dropped to 49.2 from 50.8, and new export orders fell to 47.8 from 49.0, highlighting the challenges faced by the manufacturing sector.