Falling for 6 months in a row, Chinese Purchasing Managers Index below threshold level for 1st time since Feb 2020
China’s manufacturing industry weakened in September with its Purchasing Managers Index (PMI) falling below the threshold level since Feb. 2020, according to the National Bureau of Statistics on Thursday.
Decreasing for the sixth consecutive month, Chinese PMI for the manufacturing sector hit 49.6% in September,down 0.5 percentage from August.
As a critical gauge of manufacturing sector health, monthly PMI indices above 50 indicate expansion in the sector, below 50 shows contraction.
The sub-indices for production and new order decreased month-on-month to 49.5% and 49.3%, respectively this September.
Meanwhile, China’s non-manufacturing PMI, which includes services and construction activities, jumped to 53.2 in September from 47.5 last month.