The manufacturing sector in China was steady in September, the latest survey from Caixin showed on Thursday with a manufacturing PMI score of 50.0.
That beat expectations for a score of 49.5 and it’s up from 49.2 in August. It moves out of contraction territory and right onto the line that separates expansion from contraction.
The higher headline index figure was partly driven by a renewed upturn in overall sales during September. Though only slight, it was the first time new work had increased for three months. Underlying data suggested this was largely driven by firmer domestic demand, as export sales continued to decline. A number of companies commented on improved customer numbers.
Although production fell for the second month in a row in September, the rate of decline eased to only a marginal pace. Firms indicated that relatively subdued demand and material shortages had weighed on production.
The material has been provided by InstaForex Company – www.instaforex.com