China’s PMI returns above 50, but the recovery remains uneven
📊 China’s official manufacturing PMI rose from 49.8 to 50.1 in September, returning just above the expansion threshold and matching expectations. The non-manufacturing PMI also recovered to 50.2, indicating firmer activity than in August.
🏭 Production climbed to 51.7, while new orders stood at 50.5 and edged lower. This suggests factory activity is improving faster than demand, while manufacturing employment remained weak at 48.4.
⚙️ Momentum continues to be concentrated in high-tech and equipment industries, while small firms, chemicals and ferrous metals remain below 50. RatingDog’s private manufacturing PMI at 52.1 also confirms improvement, though the recovery remains uneven across sectors.
💹 Input prices jumped to 60.8, well above the 54.0 output-price index, increasing pressure on margins. September’s data therefore points more to stabilization and structural divergence than to a confirmed new growth cycle.
#ChinaPMI $CHZ
📊 China’s official manufacturing PMI rose from 49.8 to 50.1 in September, returning just above the expansion threshold and matching expectations. The non-manufacturing PMI also recovered to 50.2, indicating firmer activity than in August.
🏭 Production climbed to 51.7, while new orders stood at 50.5 and edged lower. This suggests factory activity is improving faster than demand, while manufacturing employment remained weak at 48.4.
⚙️ Momentum continues to be concentrated in high-tech and equipment industries, while small firms, chemicals and ferrous metals remain below 50. RatingDog’s private manufacturing PMI at 52.1 also confirms improvement, though the recovery remains uneven across sectors.
💹 Input prices jumped to 60.8, well above the 54.0 output-price index, increasing pressure on margins. September’s data therefore points more to stabilization and structural divergence than to a confirmed new growth cycle.
#ChinaPMI $CHZ