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The purchasing managers' index (PMI) for China's manufacturing sector came in at 51.5 in September, up from 51 in August, the National Bureau of Statistics (NBS) said Wednesday. A reading above 50 indicates expansion, while a reading below reflects contraction. It is the seventh month in a row that the figure has remained in the expansion territory. Commenting on the sustained expansion, NBS senior statistician Zhao Qinghe said the Chinese economy keeps recovering steadily with increasing positive factors as the country continues to advance the policies of balancing epidemic control and economic development. In September, the sub-index for production stood at 54, up 0.5 points month on month, while that for new orders rose 0.8 points to 52.8. With the steady recovery of supply and demand as well as the coming of the busy season for traditional manufacturing, enterprises' purchasing willingness is on the rise and market activities are increasing, Zhao said. Wednesday's data also showed that the PMI for China's non-manufacturing sector came in at 55.9 in September, up from 55.2 last month. |
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