Flash China manufacturing PMI at 51.9, highest in 2 years

FXstreet.com (Barcelona) - The flash China manufacturing PMI came at 51.9 vs 51.5 in December, a new 2-year high. Meanwhile, the Flash China manufacturing output Index stood at 52.2 vs 51.9 in December, a 22-month high.

Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said: “January’s HSBC China manufacturing PMI rose for the fifth consecutive month to the highest in two-years, heralding a good start to the New Year. Thanks to the continuous gains in new business, manufacturers accelerated production by additional hiring and more purchases. Despite the still tepid external demand, the domestic-driven restocking process is likely to add steam to China's ongoing recovery in the coming months.”