The purchasing managers index (PMIin the acronym in English) composite of China fell from 53.0 in December to 50.1 in January, according to a survey released this Monday (still on Sunday (6) by Brasília time) by IHS Markit, in partnership with Caixin Media.
Numbers above 50 indicate expansion of activity.
The services PMI, released in the same survey, dropped from 53.1 in December to 51.4 in January.
According to IHS and Caixin, the performance of the composite index, at its lowest level in five months, reflects only partial growth in activity. The modest level of expansion in services helped to offset the contractionary level of the industry (49.1).
New jobs on the composite index, meanwhile, saw their first drop since August, driven by a small pullback in new business from goods producers and a slowdown in orders from the services sector.
Total new export sales fell at the fastest pace in 20 months, with lower external demand in both sectors.
“In December and January, the resurgence of Covid-19 in several regions, such as Xian and Beijing, forced local governments to tighten pandemic control measures, which restricted production, transport and sale of goods,” said Wang Zhe in a statement. , senior economist at Caixin Insight Group.
“It has become more evident that China’s economy is under triple pressure from contracting demand, supply shocks and weakening expectations.”
Source: CNN Brasil
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