China PMI: Manufacturing PMI dips to 8-month low; services PMI edges up
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Growth in China's manufacturing sector slowed in the first month of this year, while services continued to expand.
The statistics authority's Purchasing Managers Index for the manufacturing sector stood at 51.3 in January. That's slightly lower than December's 51.6. The number remains comfortably above the 50-point mark that separates growth from contraction. The official PMI for services rose to 55.3 in January from December's 55. The figure has been climbing since October. And for the first time, the government released composite PMI numbers, which account for both manufacturing and services. The reading for January stood at 54.6, unchanged from December and November.