In a positive turn for China's economic outlook, the Composite Purchasing Managers' Index (PMI) experienced a modest increase in September 2024. The index nudged upwards to 50.4, compared to 50.1 in August 2024. This incremental rise was officially recorded on 30 September 2024.
A PMI above 50 signals expansion in economic activity, while a figure below 50 indicates contraction. The latest data suggest a slight but notable improvement in the manufacturing and services sectors, despite global economic uncertainties.
Analysts are cautiously optimistic about the trend, suggesting that continued growth could help stabilize China's economic landscape. However, they warn that sustained efforts will be required to maintain and accelerate this momentum, given the ongoing challenges facing the global economy.
