The Silicon Review
30 September, 2019
There are some sigh of relief for the Chinese manufacturing industry as manufacturing activities have edged up in September, amid on-going trade tussle with America.
“The improved data was unlikely to mark the start of a turnaround,” said by Julian Evans-Pritchard, Capital Economics.
The statistics released by National Bureau of Statistics (NBS) indicated that the purchasing managers' index (PMI) for the manufacturing sector climbed up from 49.5 to 49.8. The figures were surprising because it turned out to be better than the prediction made in a Bloomberg survey of economists.
But, for the fifth month, the figures indicated a contraction in the overall growth because it remained below 50.
In September, export orders have shooted up and sub-index climbed from 47.2 to 48.2 in the last month.
The Caixin manufacturing PMI jumped from 50.4 to 51.4. Now, it’s been almost more than one year since America and China have been involved in a bruising trade tussle. Trade tariffs have been affecting the world’s two biggest economies.
The survey reports also indicated that manufacturers were still cautious about their business prospects.
Furthermore, the data revealed by the Chinese government indicated that the industrial output climbed up by 4.4 percent year-on-year throughout August, falling to its lowest level in 17 years and down from 4.8 per cent in July.
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