On January 23, 2025, workers at Sihong Guoshun Daboch Co., Ltd., Weiying Town, Vihong Town, Sihong County, Suqian City, Jiangsu Province are producing clothing exported to overseas markets.
Cost photo | Nur Photo | Getty Picture Club
China’s factory event in January was unexpectedly shrinking, which reversed the expansion momentum in the past three months, partly due to the off -season before the Lunar New Year.
The official purchasing manager index in January is 49.1, Data released by the National Bureau of Statistics Display on Monday.
The reading is lower than 50.1 predicted by the Reuters poll. The PMI in December was 50.1, and November was 50.3. PMI reading is higher than the 50 threshold indicating the expansion of economic activities, while lower than 50 indicates the shrinkage of economic activities.
Shan Hui, chief Chinese economist of Goldman Sachs, said that the manufacturing PMI was often weaker in January because migrant workers returned to their hometown before the Lunar New Year on January 29.
Non -manufacturing PMI, which measures the service industry and construction activities in January, fell from 52.2 last month to 50.2.
In addition, China’s industrial profit 11% year -on -year in December,, It has grown for the first time since July.
Corporate profits have recovered from a significant decline in September by 27%, which is the largest decline since the COVID-19 period in March 2020. Due to the downturn and dim income prospects of the real estate industry continued to suppress consumers’ needs, the annual decrease of 7.3% and 10% in November and October.
Industrial profits are the key indicators of Chinese factories, public undertaking and mining financial and health.
In 2024, industrial profits decreased 3.3%compared with the previous year, and the third consecutive year decreased.
World secondary economy Last year, the official annual growth goal was achievedWith the introduction of a series of stimulus measures, the economy has grown 5.0%. Industrial output growth exceeds retail salesIt highlights that domestic demand is still weak and the supply face is strong.
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