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China PMIs return to growth in September, led by non-manufacturing
The official manufacturing PMI rose to 50.1 in September, after two months of contraction, while non-manufacturing jumped to 50.2 from 49.0.
China's official manufacturing PMI increased to 50.1 in September from 49.8, bringing the index back to the growth threshold after two months of contraction, according to Forexlive.
The non-manufacturing PMI rose to 50.2 from 49.0, also exceeding its forecast, signaling expansion beyond the manufacturing sector.
Forexlive noted that stronger factory activity can support demand expectations for industrial commodities, including oil, and that private-sector readings showed manufacturing was stronger, with a separate manufacturing PMI reading at 52.1.
Even with the return above 50, the report said the official PMIs remain close to the line and domestic demand is still weak, keeping attention on potential policy support.