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30 Sep 2014
China HSBC PMI makes marginal progress in September
FXStreet (Bali) - Flash China Manufacturing PMI came at 50.2 in September, down slightly from the earlier flash reading of 50.5 and unchanged from August’s three-month low, HSBC reported.
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 was revised down slightly to 50.2 in the final reading for September from the flash reading of 50.5, and unchanged from the August reading. Output and new orders were both revised down. Meanwhile, the employment and price sub-indices were revised up, although both remain at relatively low levels. The new export orders sub-index rose to its highest reading since March 2010. Overall, the data in September suggest that manufacturing activity continues to expand at a slow pace. We think risks to growth are still on the downside and warrant more accommodative monetary as well as fiscal policies.”
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 was revised down slightly to 50.2 in the final reading for September from the flash reading of 50.5, and unchanged from the August reading. Output and new orders were both revised down. Meanwhile, the employment and price sub-indices were revised up, although both remain at relatively low levels. The new export orders sub-index rose to its highest reading since March 2010. Overall, the data in September suggest that manufacturing activity continues to expand at a slow pace. We think risks to growth are still on the downside and warrant more accommodative monetary as well as fiscal policies.”