China January official PMIs jump in the first full month of reopening. Great bounce for Services, manufacturing back into expansion. China is back. Have no doubt.
Manufacturing 50.1, best since September 2022
- expected 49.8, prior 47.0
Services 54.4
- expected 52.0, prior 41.6
Composite 52.9
- prior 42.6
Also out were the Industrial profits data:
- 2022 Industrial profits -4.0% y/y (prior -3.6%)
