China's NBS Manufacturing PMI improves to 49.2 in January, as expected

China’s official Manufacturing Purchasing Managers' Index (PMI) downturn eased slightly in January, coming in at 49.2. as against the 49.0 contraction registered in December, according to the latest data released by the National Bureau of Statistics (NBS) on Wednesday.

The market consensus was for a 49.2 readout in the reported month.

The index, however, remained below the 50 mark, which separates expansion from contraction.

The NBS Non-Manufacturing PMI climbed to 50.7 in January versus the expected 50.6 figure and December’s 50.4 print.

Jan 31, 2024

China NBS Manufacturing PMI meets forecasts (49.2) in January

Australian Treasurer Chalmers: Softer inflation welcome but people are still under pressure

Commenting on the Australian inflation data, the country’s Treasurer Jim Chalmers wrote on X, “today's very welcome results are even better than market expectations, but we know people are still under pressure, which is why @AustralianLabor's cost of living tax cuts for middle Australia are so important.” “New data from the @ABSStats shows we are making very welcome and encouraging progress in the fight against inflation, Government policies are helping, but this is not mission accomplished because we know