BUSINESS China's manufacturing PMI up to 51.5 in September

BUSINESS

China's manufacturing PMI up to 51.5 in September

People's Daily app

09:07, September 30, 2020


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(File photo: CFP)

The purchasing managers' index (PMI) for China's manufacturing sector rose to 51.5 in September from 51 in August, the National Bureau of Statistics said on Wednesday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

Commenting on the expansion, NBS senior statistician Zhao Qinghe said the PMI for large, medium and small businesses was 52.5 percent, 50.7 percent and 50.1 percent respectively. This marks the first time that the figure of small enterprises edged up to the expansion territory since June. The rebound is due to the boom of manufacturing in the traditionally high season, and also a series of targeted and inclusive policies and incentives for small and micro businesses.

In the meantime, despite the overall pick-up of demands of manufacturing, the recovery of different industries and sectors is imbalanced. With the COVID-19 pandemic yet to be fully controlled around the globe, instabilities and uncertainties remain in imports and exports.

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