China Caixin PMI Services rose to 53.4 in September, up from August’s 46.7, above expectation of 49.3. PMI Composite rose to 51.4, up from 47.2 in August.
Wang Zhe, Senior Economist at Caixin Insight Group said: “Both market supply and demand recovered, and improvement in the services sector was stronger than in the manufacturing sector. Impacted by the pandemic, overseas demand was weak. Employment was stable overall. Prices gauges remained high, indicating strong inflationary pressure.”
