China's non-manufacturing PMI down in January

The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 51.1 in January, down from 52.7 in December, the National Bureau of Statistics (NBS) said Sunday.

A reading above 50 indicates expansion, while a reading below it reflects contraction.

Due to a resurgence in COVID-19 cases in several regions, the sub-index for business activities in the services sector declined 1.7 percentage points from December 2021 to a five-month low of 50.3 in January, according to NBS senior statistician Zhao Qinghe.

The overall business climate in the construction sector weakened seasonally, with the sub-index for business activities in the construction sector standing at 55.4 in January, 0.9 percentage points lower from the previous month.

Sunday's data also showed that the PMI for China's manufacturing sector came in at 50.1 in January, down from 50.3 in December 2021.