Especially in the service sector
The mood in China's economy deteriorated in January amid new corona measures. The official purchasing managers' index (PMI) for industry fell in January from 51.9 points in the previous month to 51.3 points, the Beijing statistics office announced on Sunday. Experts had expected a drop to 51.6 points.
In the service sector, sentiment fell even more sharply from 55.7 points to 52.4 points. With this key figure, significantly more was expected at 55.0 points.
A slowdown in the economy is common in China in January. This year, travel restrictions were added, which mean that many Chinese people do not travel to their hometown for the New Year celebrations.