China's Private Sector Growth Weakens In September
09 Oktober 2017 - 03:59AM
RTTF2
China's private sector expanded at a slower pace in September
driven by weaker increases in output at both manufacturing and
services companies, survey data from IHS Markit showed Monday.
The Caixin composite output index rose dropped to a 3-month low
of 51.4 in September from 52.4 a month ago. Nonetheless, a score
above 50 indicates expansion in the sector.
The services Purchasing Managers' Index fell to 50.6 in
September from 52.7 in August. The reading indicated only a
marginal increase in services activity that was the slowest for 21
months.
"The Chinese economy generally held up well in the third
quarter," Zhengsheng Zhong, Director of Macroeconomic Analysis at
CEBM Group, said.
"However, the expansion in both manufacturing and services
cooled in September, suggesting downward pressure on economic
growth may re-emerge in the fourth quarter."
Data showed that overall weaker expansion in private sector
coincided with a slowdown in new order growth across both monitored
sectors.
At composite level, new work increased at the weakest pace since
June. Manufacturers said new work logged the slowest growth in
three months, while service providers reported a moderate
upturn.
Goods producers signaled a further decline in employment, while
services companies increased their staffing levels at a slower rate
in line with the trend in new orders.
Services companies suggested only a marginal increase in cost
burdens at the end of the third quarter, despite the rate of
inflation picking up for the second month in a row. This contrasted
with a sharp and accelerated rise in manufacturers' input
costs.
Consequently, the rate of composite input price inflation
quickened to an eight-month high.
Reflective of the trend for input costs, output charges set by
services companies rose only slightly in September. Stronger cost
pressures at manufacturers led factory gate charges to increase
sharply as firms sought to protect their margins.
Selling prices at the composite level subsequently increased at
the fastest pace since last December.
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