S&P Global: China’s business activity slows in Sep. ’24

The Composite Output Index in September 2024 was 50.3, down from 51.2 in August, indicating a slower growth in Chinese business activity for the eleventh consecutive month, according to a data by S&P Global showed on Monday.

The slowdown was due to reduced expansions in both manufacturing and services sectors.

New orders decreased for the first time since December 2022, mainly in the goods producing sector. Staffing levels also dropped, driven by reductions in manufacturing, and overall optimism levels reached a record low.

Input cost inflation decreased to a ten-month low, with manufacturing costs declining, and average charges fell at the most significant rate in nearly one-and-a-half years.

Attribution: S&P Global report

Subediting: M. S. Salama