Caixin China manufacturing PMI rises to 50.0 in Sept on improved demand

Author: Nurluqman Suratman


SINGAPORE (ICIS)--Caixin’s China manufacturing purchasing managers’ index (PMI) rose to 50.0 in September from 49.2 in August, driven by a renewed upturn in overall sales, the Chinese media firm said on Thursday.

The neutral September reading indicated that manufacturing conditions in China remained unchanged from the previous month.

The resurgence of COVID-19 cases in several regions in China and shortfalls in raw material supplies slowed production, with the gauge for output contracting for the second straight month in September, according to Wang Zhe, senior economist at Caixin Insight Group.

Demand improved, though marginally, with demand for consumer goods in the doldrums, Wang said.

"Overseas demand was relatively weak as new export orders largely decreased in September. The epidemic again emerged overseas. Global shipping capacity was also clearly insufficient," he said.

Meanwhile, China's official manufacturing PMI fell to 49.6 in September from 50.1 in August, the National Bureau of Statistics (NBS) said on Thursday.