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China caixin manufacturing PMI hit lowest since 2016

China’s manufacturing sector activities contracted more-than-expected in January, confirming views that the world’s second-largest economy is having a bumpy start to the new year.

Analysts believe the government will do more to boost the economy and are expecting more than one interest rate cut this year. Some say that the first rate cut could come as soon as today.

The Caixin Manufacturing Purchasing Managers’ Index (PMI) came in at 48.3 in January, contracting for the second consecutive month and hitting the lowest since 2016. That’s compared to the 49.5 expected by analysts . . .

 

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