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The Sales Managers Index: China

The First Data for China Manufacturing - Every Month

Released: 27 September 2021

China Manufacturing: Further Sharp Price Rises Reported in September

Having broken several growth records in August, including a spectacular 75 month high for the Market Growth Index, China's Manufacturing sector Sales Managers reported a month of consolidation in September.

All growth related Indexes bar staffing showed further improvements, but on a more modest scale than seen in August.  

The Staffing Index surprised with a reversal below the 50 "no growth " line, to a 14 month low.  Although only fractionally under the 50 line, and the overall index concealing some substantial variation, the Index does clearly reflect continuing worries in the manufacturing sector over supply and transport shortages and rising costs for many goods and services including such basic items as containers.

The Price Index rose once again in September and is now too high for comfort at very close to the 54 level. Whether this reflects a move to a more inflationary environment in future, or is just a temporary blip due to recovery from Covid remains to be seen.

 

China Manufacturing SMI: Prices Charged Index

 

 

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