Report: Chinese Manufacturing Rises in January

Posted February 1st, 2012 at 4:30 am (UTC-5)
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China’s manufacturing sector slightly improved in January for the second consecutive month, suggesting the world’s second-biggest economy will not suffer a major impact from the still-sluggish global economy.

Figures released Wednesday by the China Federation of Logistics and Purchasing indicate the official purchasing managers index (PMI) rose to 50.5 in January, barely exceeding December’s 50.3 showing. A PMI number above 50 indicates the manufacturing sector is expanding.

The PMI fell to 49 in November, the first such contraction since early 2009.

China’s economy has slowed due the European sovereign debt crisis, which has driven down demand for Chinese-made goods. New export orders fell to 46.9 in January, down from December’s 48.6 rate.

A separate PMI measure by British banking giant HSBC indicates China’s manufacturing sector stood at 48.8 in January, compared to the 48.7 rate the month before.