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NBS: China’s Sept manufacturing PMI into contraction

ABSTRACT

For September, China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry fell into the contraction zone for the first time after 18 months in expansion, or down 0.5 basis point on month to 49.6, with all the five key sub-indices including production, new orders, and raw materials procurement below 50, China’s National Bureau (NBS) of Statistics shared in the report on September 30.
“The contraction of PMI in September reflected overall lower sentiment among the power-intensive sectors,” commented Zhao Qinghe, the Bureau’s senior statistician, “though among the total 21 surveyed sectors, 12 saw their sentiment index above 50, or two more than in August,” he said. For September, thesub-indices of both production and new

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