China official manufacturing PMI returns to growth at 50.1, non-manufacturing 50.2

A return to growth in the official manufacturing survey, alongside a jump in the non-manufacturing index, gives China-sensitive assets a supportive final data point before the holiday. Factory strength matters for industrial commodities, including oil, and RatingDog's finding that manufacturers' input costs are being pushed up by metals and oil suggests demand for those inputs is holding up. Still, the official readings sit close to the 50 line and domestic demand remains weak, so the market is likely to keep looking to policy support for further upside. The gap between the official 50.1 and the private-sector 52.1 will also draw attention, since it leaves the strength of the recovery open to debate. -- China's official PMIs moved back above 50 in September as factories resumed and AI demand helped, though weak domestic demand keeps pressure on Beijing for more support. Summary: China's official manufacturing PMI rose to 50.1 in September from 49.8, matching the Reuters poll forecast and ending two straight months of contraction. The manufacturing new orders sub-index was 50.5 and production was 51.7. The official non-manufacturing PMI, covering services and construction, rose to 50.2 from 49.0, above the forecast of 49.3. The RatingDog manufacturing PMI rose to 52.1 from 51.5 (forecast 51.6), services rose to 51.6 from 51.4 (forecast 51.1), and composite rose to 52.4 from 52.1. Easing weather disruptions and a global AI boom helped factories, while retail sales and investment remain weak. China unveiled measures on Tuesday to steer cheaper credit into sectors including infrastructure and technology, and the US and China agreed to pursue tariff cuts on $60 billion of goods each. The NBS non-manufacturing PMI, which covers services and construction, also improved, rising to 50.2 from 49.0 in August. That was above the forecast of 49.3 and moved the index back above 50. The data were released at 01:30 GMT on Wednesday, ahead of a week-long Chinese holiday that starts