Man­u­fac­tur­ing expands at slower pace

China Daily (Canada) - - NEWS CAPSULE -

China’s man­u­fac­tur­ing sec­tor ex­panded at a slower pace in Septem­ber, of­fi­cial data showed.

The coun­try’s man­u­fac­tur­ing pur­chas­ing man­agers’ index was 50.8 in Septem­ber, nar­row­ing from 51.3 in Au­gust, ac­cord­ing to the Na­tional Bureau of Statis­tics (NBS). A read­ing above 50 in­di­cates ex­pan­sion, while a read­ing be­low 50 re­flects con­trac­tion.

The de­cline was par­tially driven by the un­fa­vor­able work­ing day ef­fect as the Mid-au­tumn Fes­ti­val shifted to Septem­ber this year from Oc­to­ber last year, but it also in­di­cated strong head­winds on the man­u­fac­tur­ing sec­tor, said a re­port from China In­ter­na­tional Cap­i­tal Cor­po­ra­tion (CICC).

The data also showed that China’s non-man­u­fac­tur­ing sec­tor ex­panded at a faster pace, with the PMI for the sec­tor stand­ing at 54.9 in Septem­ber, up from 54.2 in Au­gust.

The ser­vice sec­tor, which ac­counts for more than half of the coun­try’s GDP, main­tained sta­ble growth, with the sub-index mea­sur­ing busi­ness ac­tiv­ity in the in­dus­try stand­ing at 53.4 in Septem­ber, flat with Au­gust.

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