09-30-2022, 10:52 AM
China factory activity expands for first time in 3 months, beats expectations in September
- Official manufacturing purchasing managers’ index (PMI) rose to 50.1 in September, while the non-manufacturing gauge fell to 50.6
- Caixin/Markit manufacturing PMI fell to 48.1 in September from 49.5 in August , marking the second month of contraction
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China’s factory activity beat expectations and expanded for the first time in three months in September, data released on Friday showed.
The official manufacturing purchasing managers’ index (PMI) rose to 50.1 this month, up from 49.4 in August, according to the National Bureau of Statistics (NBS). The 50-mark separates growth from contraction on a monthly basis.
The official non-manufacturing PMI, which measures business sentiment in the services and construction sectors, fell to 50.6 in September from 52.6 in August.
“In September, with a series of stimulus packages continuing to take effect, coupled with the impact of hot weather receding, the manufacturing boom has rebounded. The PMI returned to the expansionary range, ” said senior NBS statistician Zhao Qinghe.
-“[The non-manufacturing index] remained above the threshold, with the overall expansion of the non-manufacturing sector decelerating.
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