HONG KONG (AP) — Chinese manufacturing looks set to contract in January for the first time in six months, according to an survey released Thursday, further evidence of a slowdown that complicates reform efforts in the world’s No. 2 economy.

The preliminary version of HSBC’s purchasing managers’ index dipped to 49.6 this month from December’s 50.5 reading. It’s the lowest reading since July’s 47.7. The index is based on a 100-point scale on which numbers above 50 indicate expansion.