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China's manufacturing activity in January likely shrank for the fourth straight month though at a slower pace than in December, a Reuters poll showed, indicating the country's sprawling sector was still struggling to regain momentum at the start of 2024. The National Bureau of Statistics will release the PMI data on Wednesday, providing the first official snapshot of how the world's No.2 economy has started off the new year after a shakier-than-expected post-COVID recovery. To spur growth, China's central bank governor Pan Gongsheng unexpectedly announced a cut to banks' reserve requirement ratio at a press conference last week, as the challenges of a property downturn, local government debt risks, deflationary pressures and weak global demand weigh on the economy.
China s manufacturing activity in January likely shrank for the fourth straight month though at a slower pace than in December, a Reuters poll showed, indicating the country s sprawling sector was. -January 29, 2024 at 03:53 am EST
- MarketScreener