When is china pmi release

High-tech manufacturing continued to post gain with a reading of 54, 0. The sub-index for new orders slid 0. Li Chang'an, a professor at the University of International Business and Economics' School of Public Administration, told the Global Times on Thursday that the weak reading showed the impact of soaring raw materials and energy prices had on the real economy. However, analysts pointed out that with the latest outbreaks of COVID being brought under effective control and the robust consumption expected during the upcoming holidays, China's economic recovery will remain solid in the coming months.

Nationwide efforts to curb runaway raw material prices, if successful, could also ease the burden for China's industrial firms, analysts noted.

Li predicted non-manufacturing PMI will continue to post gains in October. Barclays says the time is right to buy Chinese tech stocks, names Alibaba top pick. A separate private survey also released on Thursday that focuses on small and export-oriented businesses showed that factory activity in September neither expanded nor contracted.

On a more sanguine note, the official non-manufacturing PMI in September was at Last month, Covidrelated restrictions drove services sector activity into sharp contraction for the first time since the height of the pandemic last year. The official September composite PMI, which includes both manufacturing and services activity, stood at Skip Navigation. Key Points. China's economy rapidly recovered from a pandemic-induced slump last year, but momentum has weakened in recent months, with its manufacturing sector hit by rising costs, production bottlenecks and electricity rationing.

The sudden contraction in factory activity will further weigh on an economy already hit by curbs on its property and tech sectors. A worker labors in a factory of automotive parts in Taizhou in east China's Jiangsu province Wednesday, Sept. New export orders fell for a third straight month, countering a rise in a sub-index for new orders to This year, China's sprawling manufacturing sector has been tested by COVID outbreaks, higher costs, production bottlenecks, and more recently, power rationing.

A power crunch triggered by a shortage of coal, tougher emissions standards, and strong industrial demand had led to widespread curbs on electricity usage, hurting factory output. But the situation began to improve in October under heavy government intervention. Still, input prices rose at their fastest pace since December , partly due to higher energy and transport costs, while gains for price charged also accelerated to the highest since May, adding to concerns about the emergence of stagflation.

To help struggling manufacturers, China's cabinet said on Wednesday that the government will defer some taxes for manufacturers for three months from November.