Chinese PMIs slow sharply

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Via China’s NBS come fading PMIs, no doubt in part owing to virus disruptions. The falling new orders in construction are a worry for iron ore.

In January , China’s Manufacturing Purchasing Managers Index ( PMI ) was 51.3% , down 0.6 percentage points from the previous month , and was above the threshold for 11 consecutive months, indicating that the manufacturing industry continues to expand, but the pace has slowed.

In terms of enterprise scale, the PMI of large and medium-sized enterprises was 52.1% and 51.4% , down 0.6 and 1.3 percentage points from the previous month , but both were higher than the threshold; the PMI of small enterprises was 49.4% , up 0.6 percentage point from the previous month . Still below the critical point.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.