MNI BRIEF: China Sep PMI Rises But Remains Below 50
MNI (BEIJING) - China's Manufacturing Purchasing Managers Index rose by 0.7 points to 49.8 in September, but remained below the 50 mark for the fifth consecutive month, as production accelerated and demand improved, data from the National Bureau of Statistics showed Monday.
The production and new orders sub-indices rose by 1.4 and 1.0 points, to 51.2 and 49.9. Price sub-indices narrowed declines but remained at low levels due to insufficient effective demand and commodity price fluctuations.
Non-manufacturing PMI registered 50.0, down 0.3 points from the previous month. The business activity index in the service sector decreased by 0.3 points to 49.9. Railway transportation, culture, sports and entertainment services fell sharply into the contraction territory as the summer holiday ended and extreme weather increased, the NBS said.