China: PMI stabilizes in September
October 1, 2014
The Purchasing Managers’ Index (PMI) remained at the previous month’s 51.1 points in September, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP), which publish the index. September’s print slightly overshot the 51.0 points that market analysts had expected. That said, the PMI remains above the 50-point threshold that separates expansion from contraction in the manufacturing sector, where it has idled since September 2012.
September’s reading reflected that an improvement in manufacturing output, inventories and supplier delivery was offset by a lower reading in new orders. Job conditions were stable in September. In addition, new exports orders increased slightly in September, while input prices—a reliable leading indicator for consumer prices—hit a six-month low.