{"id":6936,"date":"2019-01-31T04:02:23","date_gmt":"2019-01-31T04:02:23","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/chinas-factory-activity-shrinks-as-slowdown-worries-rise\/"},"modified":"2019-01-31T04:02:23","modified_gmt":"2019-01-31T04:02:23","slug":"chinas-factory-activity-shrinks-as-slowdown-worries-rise","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/chinas-factory-activity-shrinks-as-slowdown-worries-rise\/","title":{"rendered":"China’s factory activity shrinks as slowdown worries rise"},"content":{"rendered":"\n
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Chinese factory activity contracted for a second straight month in January, the official Purchasing Managers Index (PMI) showed. <\/p>\n

The index ticked up to 49.5, but remained below the 50-point level that separates growth from contraction. <\/p>\n

China reported its weakest economic expansion in 28 years in 2018, and growth is expected to slow further. <\/p>\n

Already, a number of multinationals have said sluggish growth in China has affected their bottom line. <\/p>\n

The manufacturing data was up slightly from the 49.4 level recorded in December. <\/p>\n

Marcel Thieliant, economist at Capital Economics, said while the PMI didn’t weaken any further in January, “it still suggests that the economy lost momentum at the start of the year”.<\/p>\n

Other data, such as consumer sentiment and retail sales figures, also point to weakening demand in the world’s second largest economy. <\/p>\n

Several international companies have warned on China’s slowdown, including Apple. <\/p>\n

The tech giant blamed a 5% fall in revenues partly on China<\/a>. <\/p>\n

Shares of industrial equipment giant Caterpillar took a beating earlier this week, after the company reported its sales slipped 4%, largely due to slow sales in China. <\/p>\n