China Business Confidence Index Improves with Increasing Demand for National Day of the People's Republic of China
The index showing the impression and business sentiment of the Chinese manufacturing industry exceeded the previous month for the first time in two months due to the increase in demand ahead of the long holidays of "National Day of the People's Republic of China", which is the National Foundation Day. It was.
However, officials have also taken a cautious view of the future, saying that it varies from industry to industry.
Every month, the National Bureau of Statistics of China publishes the Manufacturing PMI = Purchasing Manager Business Confidence Index, which surveys 3,000 manufacturing companies.
This month's manufacturing PMI announced on the 30th was 51.5, 0.5 points higher than last month, improving for the first time in two months.
This is due to an increase in demand for consumer goods such as food and beverages ahead of the long holidays of "National Day", which is the anniversary of China's founding starting on October 1.
In addition, the index showing orders for new exports was 50.8, which improved compared to last month due to some recovery in demand in overseas markets, and exceeded 50, which is a turning point for economic judgment, for the first time.
However, officials are cautious about the future, saying that demand has not recovered in industries such as textiles and clothing, and that business sentiment varies from industry to industry.