China’s Manufacturing Activity Down

China’s manufacturing activity contracted for the first time in six months in January, a private survey showed on Thursday.

The flash Markit/HSBC Purchasing Managers’ Index (PMI) fell to 49.6 in the month, compared with a final reading of 50.5 in December.

The reading came it much lower than a Reuters forecast of 50.3, lower than last month’s reading. A number below 50 signals contraction.  Analysts tell CNBC the data, while possibly skewed, raised potential concerns for the world’s second biggest economy.

CNBC

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