China’s Manufacturing Sector Shows Marginal Expansion in January

Amid sluggish exports and fears of recession in Europe, Chinese manufacturing showed signs of improvement in January, as new orders rose to a three month high. The official Purchasing Manager’s Index (PMI) stood at 50.5 in January, up from 50.3 recorded in December, which was higher than the economists’ forecast of 49.5. A reading above 50 indicates expansion in manufacturing activity. Indexes for export orders, imports and employment showed a deeper decline. The index for new orders rose to its highest level since October, and stood at 50.4 in January, which is a substantial increase from 49.8 in December. However…