China factory activity shrinks for 5th month in September: Official PMI

BEIJING (REUTERS) – China’s factory activity shrank for the fifth straight month in September, an official survey showed on Monday (Sept 30), pointing to persistent downward pressure on the world’s second-biggest economy as it navigates a trade war with the United States.

The official Purchasing Managers’ Index (PMI) was at 49.8 in September, slightly higher than 49.5 in August, the survey from the statistics bureau showed. The 50-point mark separates expansion from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the PMI would remain flat at 49.5 from August.

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