China’s economy gathered more steam in September as a rebound in global demand and the government’s supportive measures bolstered factory activity and helped push sentiment in the service sector to its highest level in nearly seven years.

China’s official manufacturing purchasing managers index rose to 51.5 in September, according to data released by the National Bureau of Statistics on Wednesday, higher than both the 51.2 forecast by economists and August’s reading of 51.0.

A separate private gauge of manufacturing activity, the Caixin China manufacturing purchasing managers index, stood at a robust 53.0, roughly in line with the previous month’s level. Readings above 50 suggest an expansion in activity, with higher numbers pointing to a broader-based trend.

Source

Back to Latest