China factory activity snaps 2-month contractionary streak in September
China's factory activity returned to growth in September as a deepening economic malaise prompts policymakers to ramp up stimulus steps and bolster growth.
In September, China's manufacturing sector experienced expansion, according to official data released by the National Bureau of Statistics on Wednesday. The Purchasing Managers' Index (PMI) for the manufacturing sector stood at 50.1, marking a 0.3 percentage point increase from the previous month. This reading above the 50-point threshold indicates growth within the sector.
For large enterprises, the PMI was 50.6, while medium and small enterprises recorded PMIs of 49.7 and 48.9, respectively. The production index, which rose by 1.3 percentage points from the previous month, further suggested accelerated activity in manufacturing. Although the new order index slightly declined by 0.1 percentage point from August, it still remained at 50.5.
Huo Lihui, a chief statistician with the National Bureau of Statistics, noted that the manufacturing PMI returned to expansion in September. Among the 21 industries surveyed, 12 recorded a PMI above the expansion threshold, a four-point increase from the previous month, indicating improvements in the manufacturing sector. Additionally, official data revealed that the PMI for the non-manufacturing sector reached 50.2, up 1.2 percentage points from the previous month.
The composite PMI output index was recorded at 50.7, signifying expansion in production and business activities compared to the previous month.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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