China’s Manufacturing Nears Expansion, but Services Growth Slows
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China’s manufacturing sector edged closer to expansion in September, while growth in the services sector slowed, pointing to an uneven economic recovery.
The official manufacturing purchasing managers index (PMI) rose to a six-month high of 49.8 from 49.4 in August, according to data released Tuesday by the National Bureau of Statistics (NBS). The reading was just below the 50 mark that separates growth from contraction.
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- China’s official manufacturing PMI rose to 49.8 in September, just below the 50 growth threshold; services PMI fell to 50, matching a 22-month low.
- Composite PMI edged up to 50.6, indicating slight acceleration in overall activity, but weak demand and low prices pressured profits.
- Large enterprises led growth, small and medium firms remained weak, and business expectations improved for a third month.
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