(MENAFN) China's manufacturing activity contracted for the first time in six months in January, pointing to a shaky start to 2014 for the world's second-largest economy, Xinhuanet reported
The HSBC/Markit China manufacturing purchasing managers' index (PMI) for January dipped to 49.5 from 50.5 in December, the first deterioration of operating conditions in China's manufacturing sector since July. The final reading was in line with the 49.6 reported in the preliminary version of the PMI released last week
A PMI reading below 50 indicates contraction, while one above 50 signals expansion
According to the survey, the first hint of the national economy's performance, the growth rates in the output and new business sub-indices weakened and companies cut jobs at the fastest pace since March 2009
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