China's factory activity expanded strongly in September as the recovery in sector demand and production sped up, an official gauge showed, signaling further improvements in the Chinese economy.
China's official manufacturing purchasing managers' index rose to 51.5 in September from 51.0 in August, the National Bureau of Statistics said Wednesday. That was higher than the median forecast of 51.2 expected by economists polled by The Wall Street Journal.
The reading marked the seventh consecutive month that the gauge of manufacturing activity topped the 50 mark that separates expansion from contraction.
The subindex measuring production increased to 54.0 from 53.5, while total new orders rose to 52.8 from 52.0.
The subindex of new export orders climbed to 50.8, standing above the 50 mark for the first time this year as the coronavirus pandemic hurt global demand for Chinese goods.
Additionally, a subindex measuring activity for China's small manufacturers also rebounded into expansionary territory at 50.1 in September, suggesting Beijing's supporting measures for small business have started to kick in.
China's nonmanufacturing PMI, which includes service and construction activity, rose to 55.9 in September from 55.2 in August.
"Factory" - Google News
September 30, 2020 at 10:51AM
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China' factory activity grows sharply in September - MarketWatch
"Factory" - Google News
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