Foreign
CHINA’S manufacturing industry appeared to pick up in September ahead of a fresh round of trade talks between Beijing and Washington, according to a survey released on Monday.
The Caixin Purchasing Managers’ Index, which covers especially small and private businesses, increased from 50.4 points in August to 51.4 the following month, its highest score in a year and a half.
A value above 50 indicates growth, while anything under that mark indicates decline.
Growing consumer demand at home was credited for the modest boost, while exports continued to struggle amid the ongoing U.S.-China trade war, a statement from the Caixin media group said.
The Chinese Commerce Ministry announced on Sunday that a delegation headed by Vice Premier Liu He was scheduled to head to Washington in the second week of October.
U.S. broadcaster CNBC reported that the two sides are set to meet on Oct. 10.
While both sides have suspended certain tariff hikes in so-called “gestures of goodwill,” the U.S. government has taken on a more bullish tone in recent weeks.
The conflict has slowed growth in the world’s two largest economies, but Caixin’s leading economic indicator pointed to recovery in China’s manufacturing sector.
Analysis of orders and output showed a month-on-month improvement in both those areas.NAN
-Sep 30, 2019 @14:45 GMT |
Tags: Chinese manufacturing shows signs of recovery ahead of trade talks
