China PMI composite dropped to 50.1, triple pressures of contracting demand, supply shocks and weakening expectations

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China PMI composite dropped to 50.1, triple pressures of contracting demand, supply shocks and weakening expectations

China PMI Services dropped from 53.1 to 51.4 in January, above expectation of 50.5. PMI Composite dropped from 53.0 to 50.1. Wang Zhe, Senior Economist at Caixin Insight Group said: “To sum up, both the manufacturing and services sectors weakened in January. Activity in the manufacturing sector shrank. Domestic demand was subdued, and overseas demand […]

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Source: China PMI composite dropped to 50.1, triple pressures of contracting demand, supply shocks and weakening expectations