FX.co ★ China Manufacturing Shrinks in January

China's National Bureau of Statistics (NBS) Manufacturing Purchasing Managers' Index (PMI) declined to 49.3 in January 2026, down from 50.1 in December, falling short of market expectations, which anticipated a reading of 50. This recent figure indicates a slowdown in manufacturing activity at the beginning of the year, driven by muted demand conditions and a cautious outlook among businesses.