NBS of China: PMI rises to 49.8 for September, increase of 0.7 from August
The National Bureau of Statistics (NBS) of China announced that the Purchasing Managers' Index (PMI) for manufacturing rose to 49.8 in September, an increase of 0.7 from the previous month, which marks the highest level since April of this year, indicating a recovery in manufacturing.
Several sub-indices have also risen, with the production index climbing to 51.2 and the new orders index rising to 49.9.
PMI for enterprises of all sizes has also rebounded, with small and medium-sized enterprises showing a more significant increase.
The production indices for enterprises of all sizes are rising, with the production index for small enterprises rising above 50 for the first time since May.
In contrast, the non-manufacturing business activity index fell to 50, a decrease of 0.3 from the previous month. The PMI composite output index rose to 50.4, an increase of 0.3.
The NBS stated that the data reflects an overall recovery in economic activities.
Business production has accelerated, with production and new orders indices in sectors such as pharmaceuticals and automotive in the expansion range, indicating a quick supply and demand release.
High-tech manufacturing and equipment manufacturing continue to lead the way.
However, the price index remains low, indicating the impact of insufficient effective demand and fluctuations in the prices of certain bulk commodities.
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