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China HSBC PMI reaches 2-month high

FXStreet (Bali) - The latest HSBC China PMI for September - preliminary - came at 50.5 vs 50 expected and 50.2 last. The reading represents a 2-month high.

Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said the following:

“The HSBC China Manufacturing PMI rose to 50.5 in the flash reading for September, up from the final reading of 50.2 in August. The picture is mixed, with new orders and new export orders registering some improvement."

"Meanwhile, the employment index declined further and disinflationary pressure intensified. Economic activity in the manufacturing sector showed signs of stabilization in September. However, overall the data still point to
modest expansion. The property downturn remains the biggest downside risk to growth. We continue to expect more monetary easing from the PBoC in order to steady the recovery.”

China HSBC Manufacturing PMI registered at 50.5 above expectations (50) in September

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