China's manufacturing industry slowed in the first month of the year, according to the Chinese government, but unofficial statistics released by the private digital newspaper Caixin, a benchmark for investors, actually show a contraction.

According to Lusa, normally the official data and the Caixin data, prepared by the British consulting firm IHS Markit, are released monthly on consecutive days, but the proximity of the Lunar New Year vacations made them coincide, showing two different pictures of the sector.

The purchasing manager's index fell to 50.1 points from 50.3 in December.

In this indicator, a value above the 50-point threshold implies growth, and below it, contraction.

Meanwhile, Caixin and IHS Markit say that manufacturing fell from 50.9 in December to 49.1 in January.

According to Wang Zhe, an economist at Caixin Insight Group, it is becoming "increasingly clear" that the Chinese economy is suffering from "three pressures: declining demand, supply disruptions, and pessimistic expectations."

However, he also pointed to positive trends for the world's second largest economy, such as "the stabilization of inflationary pressures."