A private gauge of China’s manufacturing activity slowed its pace of expansion in September, suggesting there’s still room for caution as the nation charts its economic trajectory for the rest of the year. The Caixin manufacturing purchasing managers’ index was 50.6 last month, Caixin and S&P Global said in a statement Sunday—dipping closer to the
A private gauge of China’s manufacturing activity slowed its pace of expansion in September, suggesting there’s still room for caution as the nation charts its economic trajectory for the rest of the year.
Caixin’s services index was 50.2 for the month, also still in expansion but suggesting that pace of growth in activity is losing momentum. The figures show a somewhat precarious recovery even as the nation has rolled out stimulus. Earlier data had shown some improvement, with the official manufacturing PMI rising to 50.2 this month—the first expansion since March, though still just barely above the 50 line. A gauge of non-manufacturing activity—which captures the services and construction sectors—improved more than expected, however.
China’s economy has been challenged this year by a property crisis and weak consumer and business confidence, prompting Beijing to roll out some supportive measures. Authorities have boosted local government borrowing for infrastructure and loosened monetary policy.
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