China manufacturing activity slows as trade war rages

Chinese factory activity slowed in September, official data showed yesterday, as the Asian giant's trade war with the United States showed no sign of abating, reports AFP from Beijing.

The Purchasing Managers' Index (PMI), a key gauge of factory conditions, came in at 50.8 for the month, down from 51.3 in August, the National Bureau of Statistics said.

The figure was below the 51.2 reading tipped in a Bloomberg News survey of economists.

Although the numbers indicated a slowdown, they remained above the 50-point mark that separates expansion from contraction.

A separate manufacturing index, calculated independently by the Caixin media group, also showed a deceleration.

"Exports increasingly dragged down performance and continued softening demand began to have an impact on companies' production," said Caixin analyst Zhengsheng Zhong.

"In addition, the employment situation worsened further. Downward pressure on China's economy was significant."

 

China manufacturing activity slows as trade war rages

Chinese factory activity slowed in September, official data showed yesterday, as the Asian giants trade war with the United States showed no sign of abating, reports AFP from Beijing. The Purchasing Managers Index (PMI), a key gauge of factory conditions, came in at 50.8 for the month, down from 51.3 in August, the National Bureau of Statistics said. The figure was below the 51.2 reading tipped in a Bloomberg News survey of economists. Although the numbers indicated a slowdown, they remained above the 50-point mark that separates expansion from contraction. A separate manufacturing index, calculated independently by the Caixin media group, also showed a deceleration. Exports increasingly dragged down performance and continued softening demand began to have an impact on companies production, said Caixin analyst Zhengsheng Zhong. In addition, the employment situation worsened further. Downward pressure on Chinas economy was significant.