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Manufacturing activity contracted for the fourth straight month in January

Manufacturing activity contracted for the fourth straight month in January

RMB banknotes arranged for photography on July 3, 2018 in Hong Kong, Hong Kong.

S3studio | Getty Images News | Getty Images

Factory activity in China contracted for the fourth straight month in January, highlighting a flurry of much-needed political support for the world's second-largest economy that Beijing announced last week.

The official manufacturing PMI rose slightly to 49.2 in January from 49 in December Data from the National Bureau of Statistics Released Wednesday. This is in line with the average forecast in a Reuters poll.