China Manufacturing and Steel Sector PMI

Economy, Steel

China's official manufacturing purchasing managers' index (PMI) rose slightly to 49.8 in September, up from 49.7 in August, according to National Bureau of Statistics data. However, this meant a second successive month below the 50 benchmark that separates expansion from contraction. The country's steel sector PMI fell to 43.7 in September, from 44.7 in August, the seventeenth successive month of contraction in the industry, according to data from the China Federation of Logistics and Purchasing reported by SteelFirst.