China's manufacturing PMI rose slightly to 49.8% in September

The National Bureau of Statistics and the China Federation of Logistics and Purchasing jointly released data on the 1st. The China Manufacturing Purchasing Managers Index (PMI) was 49.8% in September, up 0.1 percentage point from the previous month and falling behind for two consecutive months. There has been a slight increase.
In terms of the size of the enterprise, large enterprises are better than small and medium-sized enterprises. The PMI of large enterprises in the month was 51.1%, up 1.2 percentage points from the previous month and returning to the 50% threshold. The PMI of small and medium-sized enterprises was 48.5% and 46.8%, respectively, both down from last month. 1.3 percentage points, continuing below the critical point.
In the sub-index that constitutes the manufacturing PMI, the production index, the new order index, and the supplier delivery time index are above the critical point, and both are up from last month. The Practitioner Index and the Raw Material Stock Index are still below the critical point. Among them, the production index was 52.3%, up 0.6 percentage points from the previous month, indicating that manufacturing production continued to grow and the growth rate accelerated.
The report released on the same day also showed that China's non-manufacturing business activity index was 53.4% ​​in September, which was the same as last month, indicating that non-manufacturing industries continued to maintain steady growth and market confidence was stable.
In terms of industries, the service industry business activity index was 53.0%, up 0.4 percentage points from the previous month, indicating that the service industry's total business growth rate has accelerated. The index of business activity in the construction industry was 55.2%, down 2.6 percentage points from the previous month, indicating that the total construction business continued to grow and the growth rate slowed down. The expected activity index for the month was 60.0%, an increase of 0.3 percentage points from the previous month, and it was continuously located in the higher economic range.

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