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caixin china manufacturing purchasing managers' index (pmi) recorded 49.3 in september, falling 1.1 percentage points from august and hitting the lowest level since august 2023. value. judging from the caixin china manufacturing pmi breakdown, manufacturing supply rose slightly, but demand shrank significantly. the production index in september was still in the expansion range, but the extent of expansion narrowed. according to sample companies, companies that increased production processed original orders that month.