Chinese Manufacturing Activity Expanded in September

China announced that manufacturing activity expanded in September as the world’s second-largest economy continued to show signs of recovering from the coronavirus pandemic. The official PMI manufacturing index for September came in at 51.5 compared to 51.0 in August, according to the National Bureau of Statistics.

PMI readings above 50 indicate expansion, while PMI readings above 50 indicate contraction. PMI readings are sequential and indicate expansion or contraction in the month.

The services PMI came in at 55.9 for September, compared to 55.2 for August.

The manufacturing sector in China took a hit earlier this year as factories closed due to widespread shutdowns to contain the coronavirus pandemic.