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- China’s manufacturing PMI fell to a seven-month low of 50.8 in September from 51.3 in August
China’s manufacturing PMI fell to a seven-month low of 50.8 in September from 51.3 in August
China's manufacturing PMI fell to a seven-month low of 50.8 in September from 51.3 in August, indicating that the manufacturing sector grew at a relatively slow pace in the month amid the escalating China-US trade war. 10 of the 13 sub-indices were lower than their respective levels in the previous month, while 2 sub-indices were higher than their respective levels in the previous month.
The new export orders index dropped by 1.4 pts from the previous month to 48.0 in September, the lowest level since March 2016, suggesting that the escalating China-US trade war may have weakened export demand for Chinese products. In comparison, the new orders index dropped slightly by 0.2 pts in September, implying that the domestic demand fared relatively well in the month. Meanwhile, the output index slid 0.3 pts in September, showing a moderation in the output growth in September. Also noteworthy is that the input prices index rose to 59.8 in September, well above the critical 50-mark, indicating a fast rise in prices of production inputs in the month.
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