Economics
China’s Official Factory Gauge Stabilizes Near 3-Year Low
- Manufacturing output climbed to 52.3 in September from 51.7
- Caixin China factory index also remained at weak level
Stabilizing Chinese PMI Offers Investors Some Reassurance
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China’s official factory gauge stabilized around a three-year low as government stimulus measures showed signs of steadying the weakness in manufacturing.
The official purchasing managers index climbed to 49.8 in September, the National Bureau of Statistics said Thursday, compared with the median estimate of 49.7 in a Bloomberg survey, which was also the level in August. Readings below 50 indicate contraction. A separate PMI gauge from Caixin Media and Markit Economics also showed improvement from its initial reading, with the final September number climbing to 47.2.