Chinese Manufacturing PMI Rises in September

Economy

China’s official manufacturing Purchasing Managers' Index (PMI) posted growth for a seventh month in a row as it increased to 51.5 in September, according to the National Bureau of Statistics (NBS). A reading above 50.0 indicates growth.

However, the country’s steel sector PMI continued a trend of contraction for a fourth consecutive month with 43.9 in September, data from the China Steel Logistics Professional Committee (CSLPC) show. Moreover, the recent reading was down 3.1 points from August, the widest month-on-month drop since February.