More Manufacturing Shrinkage, Says China PMI

(Beijing) - Business conditions for China's manufacturing sector deteriorated between August and September at the sharpest rate since March 2009, according to the latest Caixin China Purchasing Managers' Index.

The manufacturing PMI was 47.2 in September, down from 47.3 the previous month. A reading above 50 points to business growth, while anything below 50 signifies contraction.