China’s manufacturing PMI rises

Beijing, Oct 1 (IANS) China’s factory activity picked up a bit in September but remained in contraction as the country’s manufacturing sector saw improved but still weak demand, official data showed on Thursday.

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, Xinhua reported.

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 that the demand has improved slightly.

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