China’s manufacturing sector expanded for a second straight month in September, HSBC’s closely watched purchasing managers’ index (PMI) has revealed.
The PMI Index rose to 50.2 from 50.1 in August and well up from an 11-month low of 47.7 seen in July.
“The September HSBC China Manufacturing PMI edged up slightly from August,” said HSBC’s chief economist for China, Qu Hongbin. “New orders remained flat from the previous month, while external demand improved. Manufacturers restocking process continued but remained relatively slow.”
“Growth is bottoming out on Beijing’s mini-stimulus,” he added. “We expect continuous policy efforts to sustain the recovery.”
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