Chinese manufacturing activity dropped for the first time in more than two years in January, with growth in the services sector also falling to a one-year low, according to separate official surveys published on Sunday.

The manufacturing purchasing managers’ index (PMI), a key gauge of factory activity in China, was down to 49.8 in January from 50.1 in December, the Chinese National Bureau of Statistics announced.

It was the first time since October 2012 for the index to drop below the 50-point mark. That mark separates growth from contraction.

The bureau also said the nation’s non-manufacturing PMI eased by 0.4 points from the previous month to 53.7 in January, the lowest level since January 2014.

Zhao Qinghe, a senior statistician with the National Bureau of Statistics, attributed the decline in the manufacturing PMI to seasonal factors, falling commodity prices and sluggish demand in both domestic and overseas markets.

“Over the past six years, the PMI has always suffered month-on-month declines in January – except in 2012 – as factory activity slows down ahead of the upcoming Spring Festival holiday,” Mr Zhao said in a statement. In 2015, the Spring Festival – also known as Chinese New Year – will take place on February 19.

He admitted that the manufacturing sector “faces some downward pressures” but pointed out that the services sector should continue to enjoy “stable growth”.