China’s manufacturing PMI slightly improves in Sept
Meanwhile, a separate reported from Caixin Media and Markit Economics also showed improvement from its initial reading, rising to a reading of 47.2 from an initial estimate of 47, although the latest figures still fell below August’s reading of 47.3.
Official data also showed that China’s services PMI for September was reported at 53.4, stable from August, while Caixin’s final report showed the services PMI plunging to a 14-month low of 50.5.
Analysts commented that weak sentiment remains in China’s manufacturing sector as the country’s economy is still slowing and this may push the government to undertake further stimulus measures, including additional rate cuts, bank reserve requirements and higher infrastructure spending in order to spur the economy.
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