Global manufacturing PMI drops in September

BEIJING, Oct. 6 (Xinhua) -- 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.

In the third quarter of 2018, global manufacturing PMI averaged at 54.5, down from 54.7 in Q2 and 55.7 in Q1, the statement said.