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China PMI manufacturing gauge falls in January

China PMI manufacturing gauge falls in January (by Michael Kitchen)

LOS ANGELES (MarketWatch) -- China's official purchasing managers' index gauge of manufacturing slipped to 52.9 in January, indicating slowing growth in the sector after December's 53.9 reading, the China Federation of Logistics and Purchasing said Tuesday. The result from the survey compared to an average forecast of 53.5, according to a Reuters survey of economists. The CFLP said its measure of input prices rose sharply to 69.3, up from December's 66.7. The input-price metric is considered a leading indicator of inflation and suggests inflationary pressures are on the rise. A separate version of the manufacturing survey, published by HSBC, was due out later in the day.