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MNI 5 Things: China Sep Manufacturing PMI Slows on Trade Spat

MNI (London)
     BEIJING (MNI) - China's National Bureau of Statistics released its official
manufacturing and non-manufacturing PMI data Sunday. MNI highlights five things
worth attention:
     --Official manufacturing PMI growth slowed at a faster pace than economists
predicted -- to 50.8 compared with the 51.3 median seen in an MNI survey, down
from 51.3 in August.
     --The September deceleration came after a modest rebound in August. The
September reading is the slowest since February, due in part to the slowing of
the economy and increased trade frictions with the U.S.
     --The production index dropped to 53 from 53.3 in August. New orders index
decelerated 0.2 percentage point to 52%, while new export orders slowed by 1.4
percentage points to 48%.
     --The non-manufacturing PMI rose to 54.9% in September, higher than the
54.2% seen in August. It was supported by rising needs of property construction
services, a rebound in the financial sector, and active growth of retail,
restaurant and postal services, said China Logistics Information Center, which
compiles the survey.
     --The faster services PMI growth underlines how the Chinese government's
campaign to increase consumption to offset the impacts of the China-U.S. trade
spat is taking effect. The government has vowed to further cut taxes and related
fees for China companies involved in trading with other countries, which could
also play a role in the faster services PMI growth.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
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MNI London Bureau | +44 203-865-3812 |

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