Official data: China’s factory activities expanded for the first time in 6 months.
Industry experts said the positive development derived from a slew of growth support measures from the government and these policies started to take effect.
According to data from the National Bureau of Statistics, China’s manufacturing activities continued to recover in September, jumping into the expansionary territory for the first time in six months.
The official manufacturing Purchasing Managers Index (PMI) came in at 50.2 points from 49.7 in August.
Industry experts said the positive development derived from a slew of growth support measures from the government and these policies started to take effect.
The new order index rose to 50.5 in September from 50.2 the month before. Though improved to 47.8 compared to 46.7 in August, a sub-index for new export orders remained in the contractionary terrain. The data proved that local demand is picking up, however, export demand might need more time to recover.
The non-manufacturing PMI rose to 51.7 in September from 51.0 in August. Meanwhile, thanks to the heavy effort from the government to ease the pressure on the property market, the construction subindex surged to 56.2, up from 53.8 in the previous month.