Chinese factory activity rebounds, adding to recovery signs

BEIJING (AP) — A survey shows Chinese factory activity rebounded in January, adding to signs the world’s second-largest economy might be recovering from a painful slump. A monthly index issued by the Chinese statistics agency and an industry group rose to 50.1 on a 100-point scale on which numbers above 50 show activity growing. That was an unusually large gain of 3.1 points from December’s 47. China’s economic growth sank to 2.9% over a year earlier in the final three months of 2022, but economists point to increased investment and improve consumer spending as signs activity is recovering.