MNI DATA IMPACT: China Sept PMI Keeps Expanding To 51.5

China's manufacturing Purchasing Manager Index (PMI) registered 51.5 in September, standing above the breakeven 50 for the seventh month following the 51.0 recorded in August. The non-manufacturing PMI read at 55.9, up from the previous 55.2.

Both indices reflected the country's steady recovery from the pandemic, the latest data from the National Bureau of Statistics released on Wednesday showed. MNI highlights the following key points in the NBS statement:

• The production and new-order sub-indices were 54.0 and 52.8 respectively, up 0.5 and 0.8 points from last month, indicating a simultaneous rebound of supply and demand. Companies' willingness to purchase has increased with the advent of the traditional production peak season.
• The new-export-order and import sub-indices rose above the breakeven 50 for the first time this year, standing at 50.8 and 50.4, up 1.7 and 1.4 points from the previous month, as overseas demand began to pick up.
• Among the non-manufacturing PMI sub-indicators, the services business activities index read at 55.2, quickening for the second month from August's 54.3, supported by consumers' increased willingness to spend.
• The new-order and business expectation sub-indices for the service industry were 53.5 and 62.2, respectively, 2.0 and 0.9 points higher than last month, indicating rising market demand and strengthening business confidence.