China PMI down a tad in January, but the worst is yet to come

Beijing

CHINA'S manufacturing sector stabilised, with the Purchasing Managers' Index (PMI) coming in at 50.0 for the month of January, but analysts warned that the data must be taken with a pinch of salt as the statistics do not reflect the full effect of the novel coronavirus.

The "50" reading for January was down slightly from 50.2 in December 2019, said the National Bureau of Statistics (NBS) on Friday.

PMI readings above 50 indicate expansion, while those below signal a contraction.

NBS warned in its statement that the impact of the virus outbreak was not fully reflected in its January's PMI reading as the survey was conducted be…