NBS: China's manufacturing PMI contracts in January

China's Purchasing Managers' Index (PMI) for the manufacturing sector retreated in January to 49.3, down 0.8 point from December and dipping below the 50 threshold separating growth from contraction, according to the latest data released by the National Bureau of Statistics (NBS) on January 31.

The index fell into the contraction zone again last month, as some manufacturing sectors entered their traditional off-season and market demand remained weak. The sub-index of production stayed in the expansion zone in January to sit at 50.6, despite the decline of 1.1 points on month, while that of new orders contracted