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MNI BRIEF: Caixin China Sep Mfg. PMI Contracts For 2nd Month

MNI (Singapore)
MNI (Singapore)

China's September Caixin manufacturing PMI fell 1.4 points to 48.1, remaining in the contraction zone below 50 for a second month and falling to a five month low as production and demand weakened on measures to curb renewed Covid-19 outbreaks, the financial publisher said Friday.

The production sub-index fell below 50 for the first time since June, while the new orders sub-index stayed in the contraction zone for a second month and fell to the lowest level in five months. The new export orders sub-index contracted further to hit its lowest level since June, Caixin said.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was also released on Friday, covers mainly large state-owned companies and rose 0.7 points to 50.1 in September.

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