China's small and medium-sized manufacturers struggled amid measures to control Covid.
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.