sharon sanders
Editor-in-Chief & President
BEIJING :China's factory activity unexpectedly shrank in September as high raw material prices and power cuts pressured manufacturers in the world's second-largest economy, while the services sector returned to expansion after COVID-19 outbreaks receded.
The official manufacturing Purchasing Manager's Index (PMI) was at 49.6 in September versus 50.1 in August, data from the National Bureau of Statistics (NBS) showed on Thursday, slipping into contraction for the first time since February 2020.
Analysts in a Reuters poll had expected the index to remain steady at 50.1, unchanged from the previous month.
more....
https://www.channelnewsasia.com/bus...unexpectedly-shrinks-services-recover-2211796
The official manufacturing Purchasing Manager's Index (PMI) was at 49.6 in September versus 50.1 in August, data from the National Bureau of Statistics (NBS) showed on Thursday, slipping into contraction for the first time since February 2020.
Analysts in a Reuters poll had expected the index to remain steady at 50.1, unchanged from the previous month.
more....
https://www.channelnewsasia.com/bus...unexpectedly-shrinks-services-recover-2211796