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- Composite PMI data signalled a weaker expansion in total Chinese business activity at the end of the third quarter
Composite PMI data signalled a weaker expansion in total Chinese business activity at the end of the third quarter
The Caixin China Composite PMI data (which covers both manufacturing and services) signalled a weaker expansion in total Chinese business activity at the end of the third quarter. Notably, the Composite Output Index fell from 52.4 in August to a three-month low of 51.4 in September.
The slowdown was driven by weaker increases in output at both manufacturing and services companies. A drop in the seasonally adjusted Caixin China General Services Business Activity Index from 52.7 to 50.6 in September pointed to only a marginal increase in services activity that was the slowest for 21 months. At the same time, growth in manufacturing production edged down to a three-month low.
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