Stable rebound but problems remain
Print Edition
China’s manufacturing activities set a 17-month record high in September, an official survey showed, indicating a stable economic rebound.
China’s Purchasing Managers’ Index for the manufacturing sector rose to 51.1 in September from 51 in August, the National Bureau of Statistics and the China Federation of Logistics and Purchasing said yesterday.
A reading above 50 indicates expansion.
It was the third consecutive month for the index to rise, and September’s figure was the highest recorded since May 2012.
Zhang Liqun, researcher at the State Council’s Development Research Center, said the index edged up slightly, but the growth rate was not dramatic, indicating weak rebound momentum.
New orders climbed to 52.8, up from 52.4 in August while new export orders reached 50.7 compared to the previous month’s 50.2. Production hit 52.9, up from 52.6, setting a four-month high.
The sub-index for purchasing quantity was 52.5, an eight-month high. The sub-index for purchasing prices of major raw materials was 54.5 percent, up from 53.2 in August.
“Enterprises are more confident in the future of the market, as is reflected in their active purchasing,” said Zhao Qinghe, a senior bureau statistician.
However, despite the positive signs, small companies are still having difficulties, Zhao said.
JP Morgan China economist Zhu Haibin also said it seemed the recovery was still mainly related to large enterprises, while small enterprises still faced challenges.
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