The China Federation of Logistics and Purchasing (CFLP) Manufacturing and Non-Manufacturing PMI for September are as follows:
- Manufacturing PMI: 49.6, down from 50.1 expected and of the 50.1 of the previous month.
Activity in factories contracted for the first time since February 2020.
- Non-manufacturing PMI: 53.2, up from 47.5 above and above the expected 52.7.
A rebound was expected in the services sector.
About China PMIs
The Manufacturing Purchasing Managers Index (PMI) is published by the China Federation of Logistics and Purchasing (CFLP). Study the conditions in the Chinese manufacturing sector. A reading above 50 means expansion, while below this figure implies economic contraction. Since the Chinese economy has global influence, this indicator is likely to move the forex market.
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