Global manufacturing expands in September with slower pace: report
BEIJING: Growth in the global manufacturing sector slowed for four straight months in September as the resurgence of Covid-19 and rising raw material prices weighed on the recovery, according to an industry report.
The global manufacturing purchasing managers’ index (PMI) dropped by 0.1 percentage points month on month to 55.6 in September, a report published by the China Federation of Logistics and Purchasing (CFLP) showed.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The resurgence of Covid-19 continues to post challenges to the recovery of global market demand, and rising raw material prices have pushed up economic operation costs for countries worldwide, said the CFLP.
The PMI for China’s manufacturing sector came in at 49.6 in September, edging down from 50.1 in August, data from the National Bureau of Statistics showed.
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