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Chinese PMI drops to 49.7 in Jan
(MENAFN) As China's slowing economy continues to prevail, leading global economies including the US and EZ follows with its plummet in Jan, according to recent published data.
The Chinese government's Purchasing Managers' Index (PMI) dropped to 49.7 over the mentioned month from December's reading of 50.0, a reading under 50 suggests reduction in activity.
Additionally, activity in China's manufacturing sector shrank at its fastest pace in three years in the cited month, supporting fears of a harsher slowdown in the world's second-largest economy.
In the Aftermath, exports from South Korea dropped nearly 15 percent over Jan from a year earlier, and development in the US manufacturing sector slumped to its weakest in two years.
The Chinese government's Purchasing Managers' Index (PMI) dropped to 49.7 over the mentioned month from December's reading of 50.0, a reading under 50 suggests reduction in activity.
Additionally, activity in China's manufacturing sector shrank at its fastest pace in three years in the cited month, supporting fears of a harsher slowdown in the world's second-largest economy.
In the Aftermath, exports from South Korea dropped nearly 15 percent over Jan from a year earlier, and development in the US manufacturing sector slumped to its weakest in two years.
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