Chinese composite PMI shows improvement in January

6 February 2013

The latest HSBC China Composite purchasing managers' index (PMI) for China has indicated that the country's economy was stronger in January than December.

The PMI for the month was 53.5, up from 51.8 per cent in the final month of 2012, with output expanding in both the manufacturing and service sectors.

Survey compiler Markit noted that the service sector rose in accordance with the HSBC China Services Business Activity Index, which showed a reading of 54 in January, compared with 51.7 in December.

This increased output had a positive effect on employment levels, with the rise being the fastest since May 2011.

However, the actual number in work increased at a slower rate in January than it did in December.

The rate of inflation rose to a 16-month high in the manufacturing sector and was at its highest at the composite level since October 2011.

However, the actual figure eased a little in the service sector.

By Asim Shah

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