China's manufacturing activity expands slower in January
China's manufacturing sector expanded at a slower pace in January, official data showed Wednesday.
The country's manufacturing purchasing managers' index (PMI) came in at 51.3 this month, decelerating from 51.6 in December, according to the National Bureau of Statistics (NBS). A reading above 50 indicates expansion, while a reading below reflects contraction.
The manufacturing PMI has stayed above the boom-bust line for 18 straight months.
Despite the slowdown, the index was the same with that of a year ago, suggesting the sector remained steady, NBS senior statistician Zhao Qinghe said.
Sub-indices for production and new orders went down slightly to 53.5 and 52.6, respectively, while sub-indices on raw material stock, employees and suppliers' delivery time were still lower than 50.