Beijing — Growth in China’s manufacturing sector slowed more than expected in January to an eight month low in the face of a cooling property market and tighter pollution rules that have curtailed factory output. The figures, which give global investors their first look at business conditions in China at the start of 2018, reinforced the view that the economy is beginning to gradually lose steam after growing a better-than-expected 6.9% in 2017. The official purchasing managers index (PMI) released on Wednesday edged lower to 51.3 in January, compared with 51.6 in December. But it remained above the 50-point mark that separates growth from contraction on a monthly basis. Analysts surveyed by Reuters had forecast the headline number would ease slightly to 51.5. Indices for output, total new orders and imports all showed more moderate expansion in January while export orders declined marginally. The new export order index dropped to 49.5, 2.4 percentage point lower than December’s rea...
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