Beijing, October 1, 2023 (Xinhua) – Data issued by the National Bureau of Statistics, last Saturday, showed that the purchasing managers index for the manufacturing sector in China reached 50.2 last September, returning once again to the expansion zone.
A reading above 50 indicates expansion, while a reading below that reflects contraction.
This is the first time since last April that the purchasing managers’ index for China’s manufacturing sector has risen to a level above 50, after recording growth for four consecutive months, according to the authority.
Zhao Qinghe, a statistician at the authority, noted that there has been an overall improvement in the climate of manufacturing industries.
The data showed that out of 21 industries included in the survey, 11 industries recorded an expansion last September.
The data also revealed that the PMI for the non-manufacturing sector reached 51.7 in September, standing above the line between expansion and contraction.
Zhao said China’s composite PMI reached 52 in September, indicating that overall output at industrial and non-industrial enterprises continued to expand.
2023-10-01 03:21:38
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