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China's NBS Manufacturing PMI rises to 49.8 in September, Non-Manufacturing PMI eases to 50.0
China’s official Manufacturing Purchasing Managers' Index (PMI) improved to 49.8 in September, compared to 49.1 in the previous reading. The reading beated the market consensus of 49.5 in the reported month. The NBS Non-Manufacturing PMI dropped to 50.0 in September versus August’s 50.3 figure and the estimates of 50.4. Market reaction At the time of writing, the AUD/USD pair is trading around 0.6928, up 0.39% on the day.
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China Economy China’s factory activity contracts less than expected in September
China’s factory activity contracted for a fifth consecutive month in September as the world’s second-largest economy struggles to revive its growth momentum. The official manufacturing purchasing managers’ index came in at 49.8 in September, compared with 49.1 in August, 49.4 in July and 49.5 in June, according to data from the National Bureau of Statistics released on Monday. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction. The data slightly beat the 49.5 expected among economists polled by Reuters. Headwinds for the manufacturing sector has ... (full story)
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- Posted: Sep 29, 2024 9:40pm
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