OFFICIAL data in Chia showed that the nation's purchasing managers' index (PMI) for its domestic manufacturing sector came in at 49.1 in January, down from 50.1 in December.
That's below the 50-mark separating growth from contraction, reports RTHK News.
The PMI for China's non-manufacturing sector, which includes services and construction, was also lower in January coming in at 50.2, down from 52.2 in December.
Meanwhile, the combined profit of major industrial enterprises went up 11 per cent year on year in December 2024, the National Bureau of Statistics (NBS) said.
NBS statistician Zhao Qinghe said the PMI data in January was influenced by factors such as the approaching Chinese New Year holiday and enterprise employees' returning home for festival reunions.
The world's second-largest economy hit the government's growth target of around five percent over 2024, but exports and industrial output far outpaced retail sales and unemployment remained elevated.
US President Donald Trump's threat to impose a 10 per cent punitive duty on Chinese imports on February 1 also adds to the lingering uncertainty surrounding the economy.
China's trade surplus reached almost US$1 trillion last year, as producers looked to shift stocks overseas to counter weak domestic demand.
SeaNews Turkey
That's below the 50-mark separating growth from contraction, reports RTHK News.
The PMI for China's non-manufacturing sector, which includes services and construction, was also lower in January coming in at 50.2, down from 52.2 in December.
Meanwhile, the combined profit of major industrial enterprises went up 11 per cent year on year in December 2024, the National Bureau of Statistics (NBS) said.
NBS statistician Zhao Qinghe said the PMI data in January was influenced by factors such as the approaching Chinese New Year holiday and enterprise employees' returning home for festival reunions.
The world's second-largest economy hit the government's growth target of around five percent over 2024, but exports and industrial output far outpaced retail sales and unemployment remained elevated.
US President Donald Trump's threat to impose a 10 per cent punitive duty on Chinese imports on February 1 also adds to the lingering uncertainty surrounding the economy.
China's trade surplus reached almost US$1 trillion last year, as producers looked to shift stocks overseas to counter weak domestic demand.
SeaNews Turkey
