China non-manufacturing activity rebounds in January — official PMI
People wearing face masks following the coronavirus disease (COVID-19) outbreak walk in the Sanya International Duty-Free shopping complex in Sanya, Hainan province, China January 25, 2023. REUTERS/Alessandro Diviggiano
BEIJING (Reuters) — China’s non-manufacturing activity broke into expansion territory for the first time since September 2022, official data showed on Tuesday, as consumption and travel recovered over the Lunar New Year holiday after the lifting of pandemic curbs.
The official non-manufacturing purchasing managers’ index (PMI) for January stood at 54.4 versus 41.6 in December, above the 50-point mark that separates expansion from contraction on a monthly basis, according to National Bureau of Statistics data.
The official composite PMI, which includes both manufacturing and services activity, stood at 52.9 compared with 42.6 in December.
