China’s factory activity gathered speed in January, according to a private survey released Monday, as manufacturers accelerated production and loaded cargoes ahead of the extended Lunar New Year holiday.
The RatingDog China General Manufacturing PMI, conducted by S&P Global, rose to 50.3 in January from 50.1 the previous month, in line with analysts’ expectations of 50.3 in a Reuters poll. A reading above the 50 benchmark indicates an expansion, while one below that suggests contraction.
That marked the strongest level since October, when the private-surveyed PMI came in at 50.6.
The reading was better than an official survey released on Saturday, which showed manufacturing activity unexpectedly contracted in January, coming in at 49.3, compared with 50.1 in the previous month, according to the National Bureau of Statistics.
The RatingDog private survey, which samples a smaller group of export-oriented manufacturers, has typically painted a brighter picture than the official polls that cover a broader range of firms.
