Saturday , October 24 2020

China’s factory outlook gains on production

Bloomberg

An official gauge of activity in China’s manufacturing gained in September on stronger production and orders, suggesting the recovery momentum remained solid, while activity
in the services sector also strengthened.
The manufacturing purchasing managers’ index in September rose to 51.5 from 51 a month earlier, according to data released by the National Bureau of Statistics, beating the 51.3 estimate in a Bloomberg survey.
The non-manufacturing gauge rose to 55.9 from August’s 55.2. That’s better than the median forecast and well above 50, which is the level that divides improvement from deterioration from the previous month.
The steady improvement comes on the back of a resumption in operations and strong exports as economies around the world gradually reopen. Consumption in China also started to pick up as more restrictions were lifted on travelling and visiting entertainment venues.

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