The Purchasing Managers' Index rose to 50.1, indicating the first improvement after five months of decline, signaling a potential continuation of industrial production growth.
Lynn Song of ING Economics noted the 50.1 PMI level indicated that expectations were bucked for further contraction, suggesting a positive trend in manufacturing.
Song highlighted that indicators such as the production subindex reached a six-month high and new orders stabilized, suggesting gradual improvement in the domestic market.
The rise in non-manufacturing activity to 50.2 demonstrates broader economic recovery, following the central bank's recent measures aimed at stimulating economic growth.
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