China’s economic rebound is cooling down, with the key purchasing manager’s index published by Chinese business magazine Caixin showing a slight drop in January.
The index published on Monday put January at 51.5 points, down 1.5 against the previous month.
Values above 50 points on the index indicate an expansion of economic activity, while values below 50 indicate a deterioration in the situation.
The official purchasing managers’ index of the Chinese statistical office had already revealed a slightly less optimistic mood at the weekend. The PMI index fell from 51.9 to 51.3 points.
China’s chief statistician Zhao Qinghe explained that the slight decline was due to reduced business activity around the Chinese New Year celebrations, which fall on February 12 this year.
Some of the most recent Covid-19 cases in China would also have temporarily impaired production and operation at some companies.