According to the latest data released by China Federation of Logistics & Purchasing (CFLP) and NBS, the Purchasing Managers’ Index (PMI) of manufacturing industry was 50.1% in January, 3.1 percentage points higher than that in December 2022. New order index (NOI) was 50.9% in January, 7.0 percentage points higher than that in December 2022. Production index increased by 5.2 points to 49.8% in January. Stock index of raw materials was 47.6%, 2.5 percentage points higher than December 2022.
The PMI of steel industry was 46.6% in January, 2.3 percentage points higher than that in December 2022. New order index was 43.9% in January, 5 percentage points higher than last month. Production index increased by 6.8 percentage points to 50.2%. Stock index of raw materials was 43.9%, 0.4 percentage points higher than that in December 2022. The stock index of steel products increased by 11.2 points to 52.8%.