In yet another sign that the Chinese economy is heading towards recovery, manufacturing activities in China grew for the sixth-straight month in the January.
China’s manufacturing Purchasing Managers’ Index (PMI) stood at 51.3 in January. Although January’s PMI was a tad less than December’s 51.4, it was still better than Reuters poll forecast of 51.2.
Like Us on Facebook
The better-than-expected growth rate certainly showed that orders in Chinese factories are steadily improving. The official manufacturing PMI mostly focuses on activities in large factories and industries.
China’s manufacturing sector has been on a buoyant run mostly on the back of the government’s extensive spending on infrastructure projects and stimulus packages announced for =key sectors. Analysts also credit rising commodity prices for the strong run of China’s manufacturing sector.
