Tuesday, February 3, 2009

Manufacturing contracts for 4th month in January

Special Report:Global Financial Crisis





BEIJING, Feb. 4 (Chinese media) --

China's manufacturing activity contracted for a fourth straight month in January

as the global economic downturn takes a toll on the country's economy.

But the manufacturing also showed improvement for a

second consecutive month following a series of government policies to support

the weakening economy.

The Purchasing Managers' Index (PMI) of China's

manufacturing sector rose to 45.3 percent from 41.2 percent in December and a

record low of 38.8 percent in November, the China Federation of Logistics and

Purchasing (CFLP) said Wednesday.

A reading above 50 percent suggests expansion, while

one below 50 percent indicates contraction.



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