China’s manufacturing purchasing managers’ index (PMI) bounced back into the expansion zone in September, indicating growth in factory activity and a positive economic recovery in the country.
The index came in at 50.2, up 0.5 index point from August, data from the National Bureau of Statistics (NBS) showed Saturday.
Improvements in both production and demand are contributing to growing orders as well as continuous price rise of some bulk commodities recently, said senior NBS statistician Zhao Qinghe.
In particular, PMI for equipment manufacturing, high-tech manufacturing and consumer goods remained higher than the 50-point mark, with 50 being the line separating expansion and contraction.
China’s PMI for the non-manufacturing sector came in at 51.7 in September, showing an increasing expansion and contributing to a composite PMI of 52.0.
The official PMI is a gauge of sentiment among larger factory operators.
Both services and construction sectors expanded alongside positive market expectations. Notably, water transport, postal service, telecommunications, IT and financial services grew rapidly with activity indexes averaging 55 points or above.