China manufacturing edges up slightly, services sector steady
October 1, 2015, 5:39 am

Workers at the production base of FAW-Volkswagen in Chengdu, Sichuan province, China [Xinhua]

China’s manufacturing purchasing managers’ index (PMI) came in at 49.8 in September, up from 49.7 for August after two months of decline in a row, according to data released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

A reading above 50 indicates expansion, while that below 50 represents contraction.

The production sub-index posted at 52.3 in September, up from 51.7 in August, showing an accelerated growth in production.

The sub-index for new orders came at 50.2, back to expansion territory and up from 49.7 in August, indicating demand has improved slightly.

Meanwhile, China’s non-manufacturing activity held steady in September as business growth in the services sector continued to accelerate, official data showed on Thursday.

The purchasing managers’ index (PMI) for the non-manufacturing sector stayed at 53.4 in September, unchanged from August, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.

The sub-index for business expectations rose to 60 in September, up from 59.7 in August. The new order sub-index rebounded to 50.2 from 49.6, back to expansion territory.

The figures reflected steady growth in the non-manufacturing sector and confidence in the market, said NBS statistician Zhao Qinghe.

Non-manufacturing PMI tracks business activities of the service and construction industries.

The sub-index for service industry increased to 53 from 52.6 in August, indicating service businesses expanded at a faster pace.

Meanwhile, the sub-index for the construction industry continued to retreat, down to 55.2 in September from 57.8 in August, suggesting slower growth in construction activity.

Source: Agencies