China’s Economic Activity Rebounds Sharply After Reopening
- Manufacturing PMI rises to 50.1 in January, matching estimates
- Services sub-index reaches 54 during holiday as travel resumes
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China’s manufacturing and services expanded for the first time in four months in January as the reopening from Covid Zero continued and the Lunar New Year holiday spurred travel and spending.
The manufacturing purchasing managers’ index rose to 50.1 from 47 in December, matching economists’ estimates, the National Bureau of Statistics said Tuesday. The non-manufacturing gauge — which measures activity in both the services and construction sectors — increased to 54.4 from 41.6, topping expectations for 52 in a Bloomberg survey of economists.