The September official China PMI for manufacturing slowed to 50.8 from 51.3 in August. That’s the slowest since February and also below the 51.2 consensus estimate of economists.
The dip may reflect pressure from the trade war with the US and a domestic economic slowdown. The reading on exports fell to 48.0, the lowest since 2016.
A similar private measure from Caixin showed Chinese manufacturing at 50.0 compared to 50.6 previously. That’s the lowest reading since May 2017 and part of a broader deterioration.
It was a different story in the non-manufacturing sector with the PMI climbing to 54.9 from 54.0 and also beating the 54.2 August reading. That’s the best reading since June as measure of IT and telecommunications climbed.