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BEIJING (Reuters) – China’s factory activity rebounded in January, expanding for the first time since September 2022, official data showed on Tuesday, as the “exit wave” from zero-COVID passed through the population and production lines faster than expected.
The official manufacturing purchasing managers’ index (PMI) stood at 50.1, compared with a reading of 47.0 in December, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll had expected the PMI to come in at 49.8.
The 50-point mark separates contraction from growth.
(Reporting by Joe Cash; Editing by Bradley Perrett)
