China’s manufacturing PMI rise to 49.8 in Sep. ’24

China’s manufacturing sector showed signs of recovery in September 2024, as the Purchasing Managers’ Index (PMI) rose to 49.8 per cent from 49.1 per cent in August, according to the National Bureau of Statistics reported on Monday.

Breaking down the PMI by enterprise size, larger enterprises recorded a PMI of 50.6 per cent in September 2024, up from 50.4 per cent in August.

Medium-sized enterprises saw a slight increase to 49.2 per cent from 48.7 per cent, while small enterprises experienced a more significant improvement, rising to 48.5 per cent from 46.4 per cent.

Analysing the individual classification indexes, the production index rose above the critical point at 51.2 per cent, suggesting accelerated production activities in manufacturing enterprises.

The new order index also increased to 49.9 per cent, indicating improved demand in the manufacturing market.

While the raw materials inventory index rose slightly to 47.7 per cent, it remained below the critical point, indicating that the decline in inventory levels for major raw materials narrowed.

The employment index rose to 48.2 per cent, suggesting a slight recovery in the employment climate within manufacturing enterprises.

Attribution: The National Bureau of Statistics report

Subediting: M. S. Salama