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China's Factory Outlook Improves More than Expected in September


Monday, 30 September 2019 09:02 WIB

PMI Chinamanufacture PMI China


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A report on the health of China’s manufacturing sector improved in September, although it was still below the line indicating contraction.

The manufacturing purchasing managers’ index rose to to 49.8, according to data released by the National Bureau of Statistics on Monday. That’s better than the 49.6 forecast in a Bloomberg survey of economists.

The non-manufacturing gauge was 53.7, above the 50 level that divides expansion from contraction.

A separate PMI focused more on smaller, export-orientated firms due later Monday is forecast to show a slowing expansion.

The improved result comes after economic activity slowed in August, with industrial output growing at the slowest pace for a single month since 2002. A set of early data collated by Bloomberg showed that trend continuing in September.

Industrial output may see a pickup from the very weak increase in August, China International Capital Corp. economists led by Eva Yiwrote in a note before the data. However, based on the current trend, the “downside risk for third-quarter GDP has increased materially, highlighting the urgency for more decisive and effective counter-cyclical efforts.”

Source: Bloomberg


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