• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

China’s factory activity holds steady in September- Caixin PMI

September 30, 2021 by David Barret Leave a Comment

September 30, 2021

BEIJING (Reuters) – China’s factory activity fared better than expected in September, stabilising after a slump in August, a business survey showed on Thursday, with a smaller decline in production countering an uptick in demand.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 50.0 in September from 49.2 the month before, versus analyst expectations of 49.5 in a Reuters poll. The 50-mark separates growth from contraction on a monthly basis.

The Chinese economy recovered rapidly from a pandemic-induced slump last year but has since lost steam, with its sprawling manufacturing sector hit by COVID-19 outbreaks, higher costs, production bottlenecks, and more recently, power rationing.

China is in the grip of a power crunch due to a shortage of coal, tougher emissions standards, and strong demand from industry, triggering widespread curbs on electricity usage.

The output sub-index showed production fell for a second consecutive month but at a slower pace.

“The resurgence of the epidemic in several regions and shortfalls in raw material supplies slowed production at manufacturing companies,” said Wang Zhe, senior economist at Caixin Insight Group, in comments released alongside the data.

China has also been dealing with ongoing small-scale coronavirus outbreaks in the southeastern province of Fujian and Heilongjiang province in the country’s northeast.

“Surveyed enterprises said the rise in costs was mainly caused by a sharp increase in the prices of energy, industrial metals and electronic raw materials,” said Wang.

New export orders slipped faster into contraction, the data showed, hitting the lowest level since February, as overseas demand cooled. Factories continued to lay off workers and at a quicker pace.

“The demand for consumer goods was weak, reflecting consumers’ lack of purchasing power,” said Wang, adding that demand for intermediate goods was higher.

A sub-index for new orders returned to expansion. Input prices rose at the fastest pace since May.

Higher raw material prices, especially of metals and semiconductors, have also pressured profits. Earnings at industrial firms slowed for a sixth month in August.

(Reporting by Gabriel Crossley; Editing by Ryan Woo and Ana Nicolaci da Costa)

Source Link China’s factory activity holds steady in September- Caixin PMI

David Barret
David Barret

Related posts:

  1. Apple M1X MacBook Pro might drop as early as October
  2. Monte dei Paschi prepares to close 50 branches – letter to unions
  3. Billions blown as Macau casino investors fold amid gambling review
  4. Putin to end COVID-19 self-isolation period with Erdogan talks – Kremlin

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Unethical Experiments: When Scientists Really Should Have Stopped What They Were Doing Immediately
  • The First Humans Were Hunted By Leopards And Weren’t The Apex Predators We Thought They Were
  • Earth’s Passage Through The Galaxy Might Be Written In Its Rocks
  • What Is An Einstein Cross – And Why Is The Latest One Such A Unique Find?
  • If We Found Life On Mars, What Would That Mean For The Fermi Paradox And The Great Filter?
  • The Longest Living Mammals Are Giants That Live Up To 200 Years In The Icy Arctic
  • Entirely New Virus Detected In Bat Urine, And It’s Only The 4th Of Its Kind Ever Isolated
  • The First Ever Full Asteroid History: From Its Doomed Discovery To Collecting Its Meteorites
  • World’s Oldest Pachycephalosaur Fossil Pushes Back These Dinosaurs’ Emergence By 15 Million Years
  • The Hole In The Ozone Layer Is Healing And On Track For Full Recovery In The 21st Century, Thanks To Science
  • First Sweet Potato Genome Reveals They’re Hybrids With A Puzzling Past And 6 Sets Of Chromosomes
  • Why Is The Top Of Canada So Sparsely Populated? Meet The “Canadian Shield”
  • Humans Are In The Middle Of “A Great Evolutionary Transition”, New Paper Claims
  • Why Do Some Toilets Have Two Flush Buttons?
  • 130-Year-Old Butter Additive Discovered In Danish Basement Contains Bacteria From The 1890s
  • Prehistoric Humans Made Necklaces From Marine Mollusk Fossils 20,000 Years Ago
  • Zond 5: In 1968 Two Soviet Steppe Tortoises Beat Humans To Orbiting Around The Moon
  • Why Cats Adapted This Defense Mechanism From Snakes
  • Mother Orca Seen Carrying Dead Calf Once Again On Washington Coast
  • A Busy Spider Season Is Brewing: Why This Fall Could See A Boom Of Arachnid Activity
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version