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China's manufacturing sector expanded at a slower pace in September, official data showed Sunday. The country's manufacturing purchasing managers' index came in at 50.8 in September, narrowing from 51.3 in August, according to the National Bureau of Statistics (NBS). A reading above 50 indicates expansion, while a reading below reflects contraction. "Production continued to expand while market demand remained generally stable," said NBS senior statistician Zhao Qinghe. Sub-index for production edged down from 53.3 in August to 53 in September, while the sub-index for new orders dipped from 52.2 in August to 52 in September. Sunday's data also showed that China's non-manufacturing sector expanded at a faster pace, with the PMI for the sector standing at 54.9 in September, up from 54.2 in August. The service sector, which accounts for more than half of the country's GDP, maintained stable growth, with the sub-index measuring business activity in the industry standing at 53.4 in September, flat with August. Rapid expansion was seen in industries including air, retail and telecommunications, the NBS said. |
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