10/1/2023, 4:15 AM (Source: TeleTrader)
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China's manufacturing sector shrinks slightly in September

The activity in China's manufacturing sector experienced a slight slowdown in September, with Caixin Purchasing Managers' Index (PMI) going down from August's 51.0 to 50.6, S&P Global said in its report published on Sunday.

"Overall, the manufacturing sector continued to recover slowly in September. Supply and demand both expanded, price gauges rose, and purchases and raw material inventories increased steadily. However, external demand was weak, employment came under pressure, and business optimism fell to a one-year low," Caixin Insight Group Senior Economist Dr. Wang Zhe commented.

The report noted that, despite that, production grew "at the strongest rate in four months" and that the index remained above 50 for the fourth time in the previous five months.

Baha Breaking News (BBN) / JR