China Manufacturing PMI Returns To Expansion Territory For The First Time Since April

Published: Oct 7, 2023 14:47

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Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, pointed out that the manufacturing PMI rebounded for four consecutive months and rose to the expansion territory for the first time since April. Among the 21 industries surveyed, the PMI of 11 was above 50%, an increase of 2 percentage points from the previous month, and the prosperity of the manufacturing industry also expanded. As market demand gradually recovers, manufacturing production activities surged up. The production index and new order index were 52.7% and 50.5% respectively, an increase of 0.8 and 0.3 percentage points MoM. Among them, the production index and new order index of industries such as petroleum, coal and other fuel processing, automobiles, and electrical machinery and equipment were all beyond 53.0%. Therefore, production demand in related industries will be released fast. To meet production needs, companies have increased their purchasing efforts, so the purchasing volume index was 50.7%, an increase of 0.2 percentage points MoM, maintaining expansion for two consecutive months.

Macro economy

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