China's Other Manufacturing PMI Shows Contraction - Caixin
(RTTNews) - The manufacturing sector in China continued to contract in September, and at a faster pace, the latest survey from Caixin showed on Friday with a manufacturing PMI score of 48.1.
That's down from 49.5 in August and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
A key factor driving the headline index lower was a faster fall in new orders during September. New business fell for the second month in a row, and at the quickest rate since April, with panel members often commenting that restrictions around travel and operations had dampened customer demand. Foreign sales also fell again, and at a solid rate that was the fastest for four months.
Disruptions to operations due to COVID-19 restrictions, including temporary closures, alongside softer customer demand led to the first fall in output for four months, albeit one that was only modest. There were also reports of difficulties sourcing inputs due to restrictions around logistics.
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