China’s PMI September 2023

China's National Bureau of Statistics confirmed the expansion in September of the composite Purchasing Managers' Index (PMI), which includes both manufacturing and services activity, at 52 up from the 51.3 recorded in the previous month and well above the 50-point threshold that separates growth from contraction.

The official PMI index for China’s manufacturing sector come in at 50.2 in September up from 49.7 in August. As for services sector activity, which has been supporting the economic recovery so far, expanded in September at 51.7 compared with 51.3 in the previous month.

Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.