China's factory activity took an unexpected downturn in January, ending a three-month growth streak, as reported by the National Bureau of Statistics which recorded a Purchasing Managers' Index of 49.1. This figure fell below the 50.1 estimate from a Reuters poll, signaling a slowdown influenced in part by the pre-Lunar New Year season. Despite a sharp 27% drop in September, China saw an 11% increase in industrial profits in December, the first growth since July. However, industrial profits for the full year of 2024 decreased by 3.3%, continuing a three-year decline trend.