China's September PMI Falls Below 50... Economic Contraction Reality
[Asia Economy Beijing=Special Correspondent Jo Young-shin] China's manufacturing Purchasing Managers' Index (PMI) for September fell below 50.
The National Bureau of Statistics of China announced on the 30th that the September PMI recorded 49.6, lower than the previous month's 50.1. The manufacturing PMI has been declining for six consecutive months since peaking at 51.9 in March.
The manufacturing PMI is an indicator showing economic trends; a baseline of 50 or above indicates economic expansion, while below 50 indicates economic contraction.
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