• 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

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • 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