China’s PMI rises in January

Thursday, 05 February 2009 09:32:38 (GMT+3)   |  
       

SteelOrbis Shanghai

China's January purchasing managers' index (PMI) rose for the second straight month to 45.3 from 41.2 in December and from a record low of 38.8 in November. But it was the fourth consecutive month the index remained below 50, indicating the downward pressure facing macro-economy.

According to the experts, the January PMI represents that China's economy is gradually bottoming out. In 2008 drastic fluctuations were observed in the prices of both domestic and overseas raw materials, resulting in a severe inventory adjustment and a sharp decline in industrial production. Since November 2008, the inventory adjustment has been largely completed, and the domestic prices of some raw materials have rebounded. The government's stimulus package had started to show its positive impacts on business through increased orders for capital goods. Therefore, it is expected that China's economy will see a rebound in the first quarter of 2009.


Similar articles

Daily iron ore prices CFR China - May 14, 2024

14 May | Scrap & Raw Materials

Is Turkey ready to accept higher deep sea scrap prices?

14 May | Scrap & Raw Materials

Ukraine’s ArcelorMittal Kryvyi Rih manages to increase output in April with modernization works

14 May | Steel News

Major steel and raw material futures prices in China - May 14, 2024

14 May | Longs and Billet

Turkey’s coking coal imports increase by 23.7 percent in January-March

14 May | Steel News

Brazilian high-grade iron price relatively stable week-on-week

14 May | Scrap & Raw Materials

Ex-Russia BPI prices up in latest deals to two destinations, supply pressure eases gradually

13 May | Scrap & Raw Materials

Daily iron ore prices CFR China - May 13, 2024

13 May | Scrap & Raw Materials

Brazilian BPI exporters face resistance to higher prices amid no improvement in US market

13 May | Scrap & Raw Materials

Silicomanganese prices in local Chinese market - week 20, 2024

13 May | Scrap & Raw Materials