By South China Morning Post | Created at 2024-09-30 02:37:30 | Updated at 2024-09-30 05:20:36
3 hours ago
Factory activity in China marginally improved in September, but remained in contraction for a fifth consecutive month, suggesting continued weakness in the world’s second-largest economy.
The official manufacturing purchasing managers’ index (PMI) – a survey of sentiment among factory owners – rose to 49.8 in September, compared with August’s reading of 49.1, according to data released by the National Bureau of Statistics (NBS) on Monday.
It exceeded the expected reading of 49.5 predicted by economists polled by Bloomberg.
A reading above 50 typically indicates an expansion of economic activity, whereas a reading below implies a contraction.
Within the official manufacturing PMI, the new manufacturing export order subindex fell to 47.5 in September from 48.7 in August.
