Global manufacturing PMI drops in September

Source: Xinhua | 2018-10-07

The world's manufacturing sector expanded at a slower pace in September mainly due to dropping global investment and trade, a Chinese association said Saturday.

The global manufacturing purchasing managers' index (PMI) came in at 54.3 in September, down 0.7 points from August and down 1.6 points from a year ago, the China Federation of Logistics and Purchasing said in a statement.

A reading above 50 indicates expansion, while a reading below reflects contraction.

"The world's manufacturing sector continued to see relatively fast growth, but the pace of growth has slowed quarter by quarter," the federation said.