China’s Factory PMI Still Sluggish In September

 @JJMcGrath3000j.mcgrath@ibtimes.com
on September 30 2012 10:33 PM
China's Manufacturing PMI
The factory slump in the world’s second-largest economy continues as China's Manufacturing Purchasing Managers Index, or PMI, rose to 49.8 in September from 49.2 in August. However, a PMI level above 50 indicates the manufacturing sector is expanding, and a PMI level below 50 suggests the manufacturing sector is contracting, so the current reading points to a ongoing slump.

The factory slump in the world’s second-largest economy continues as China's Manufacturing Purchasing Managers Index, or PMI, rose to 49.8 in September from 49.2 in August.

However, a PMI level above 50 indicates the manufacturing sector is expanding, and a PMI level below 50 suggests the manufacturing sector is contracting, so the current reading points to a ongoing slump.

The latest PMI figure was released Monday morning (Sunday night on the U.S. East Coast) by the China Federation of Logistics and Purchasing, according to the official Xinhua News Agency.

The most recent PMI number is consistent with those reported monthly by the National Bureau of Statistics of China throughout this year, with all of them coming in below their respective historical averages.

Here are the official manufacturing PMI levels reported this year:

August, 49.2

July, 50.1

June, 50.2

May, 50.4

April, 53.3

March, 53.1

February, 51.0

January, 50.5

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