03 Oct 2023

China’s official manufacturing purchasing managers’ index (PMI) rose to 50.2 from 49.7 in August, the first time it has indicated expansion since March, according to the National Bureau of Statistics on Saturday. A PMI reading above 50 indicates growth or expansion, while any reading below represents a contraction, according to CNN. ctivity in services and construction also accelerated last month, according to a separate index that hit 51.7, its best level in three months. A private gauge of activity released Sunday also showed the world’s second biggest economy continuing to grow, albeit at a slower pace than the previous month. PMI data released by Caixin Media and S&P Global showed both manufacturing and services losing some momentum.

CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 44)