China Manufacturing Expansion Slows, Caixin PMI Survey Finds - Caixin Global
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China Manufacturing Expansion Slows, Caixin PMI Survey Finds
(Beijing) — Caixin’s survey and the Chinese government’s poll of the country’s manufacturing activity diverged in September, with the private reading declining to its lowest point in three months while the official one hit a five-year high.
The Caixin China General Manufacturing Purchasing Managers’ Index — closely watched by investors as one of the first available indicators each month gauging the strength of the Chinese economy — fell to 51.0 this month from 51.6 in August. The decline came as foreign demand softened markedly while costs spiked amid an ongoing government campaign to reduce excess capacity.
It was the lowest reading since June. A number above 50 indicates expansion, while anything below 50 points to contraction.
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