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Financial News: China Private Sector Expands In September

China Private Sector Expands In September

10/08/2019 - 02:22:00 (RTTNews)

(RTTNews) - China's private sector expanded at the fastest pace in five months in September, survey data from IHS Markit showed on Tuesday.

The Caixin composite output index rose to 51.9 in September from 51.6 in August. Any score above 50 indicates expansion in the sector.

The latest expansion was the strongest rate since April.

The services Purchasing Managers' Index fell to a seven-month low of 51.3 in September from 52.1 in the previous month. The reading was expected to fall marginally to 52.0.

"China's economy showed signs of marginal recovery in September, as the labor market improved and domestic demand increased at a faster pace," Zhengsheng Zhong, director of Macroeconomic Analysis at CEBM Group said.

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