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| China's PMI of manufacturing sector rises to 54.3% in Sept. |
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The Purchasing Managers' Index (PMI) of China's manufacturing sector rose to 54.3 percent in September, up 0.3 percentage points from a month earlier, the China Federation of Logistics and Purchasing (CFLP) said on Oct. 1. A reading of above 50 suggests expansion, while one below 50 indicates contraction. The PMI includes a package of indices that measure economic performance. The survey, conducted by the National Bureau of Statistics, covers purchasing and supply managers in more than 700firms across China. The purchasing price index dropped 5.1 percentage points, the first slump in ten months. The new order index was 56.8 percent, up 0.5 percentage points from the previous month. The new export index rose to 53.3 percent, up 1.2 percentage points from the previous month. The output index was 58.0 percent this month, slightly up 0.1 percentage points from the previous month. A total of 15 sectors among the 20 surveyed in September reported a PMI index above 50 percent. In terms of products, raw materials and energy enterprises reported a PMI index below 50 percent. Consumption products enterprises reported the highest PMI index, up to 58 percent. "The new export order index and employment index reported remarkable increases, indicating the Chinese economy will continue to recover and the recovery will be sustainable," said Zhang Liqun, a researcher with the Development Research Center of the State Council. "Meanwhile, the government still plays a key role in the economic recovery and thus the macro-economic policies should be consistent, in order to underpin the economic growth," Zhang said.
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