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- Final Chinese Markit/Caixin manufacturing PMI falls to 47.2 in September
Final Chinese Markit/Caixin manufacturing PMI falls to 47.2 in September
The final Chinese Markit/Caixin manufacturing PMI declined to 47.2 in September from 47.3 in August, beating the preliminary reading of a fall to 47.0. It was the lowest level since March 2009.
"The industry has reached a crucial stage in its structural transformation. Tepid demand is a main factor behind the oversupply of manufacturing and why it has not recovered," Dr. He Fan, Chief Economist at Caixin Insight Group, said.
The Caixin/Markit Services Purchasing Managers' Index (PMI) for China dropped to 50.5 in September from 51.5 in August, missing expectations for a decrease to 51.2.
"The employment category improved markedly, pointing to the continued strength of the service sector in creating jobs," Dr. He Fan said.
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