Chinese Manufacturing Hits Seven-Month High Of 50.9
Reuters/China Daily
HSBC China flash PMI climbed to a seven-month high of 50.9 in October.
This beat expectations for a rise to 50.4, and was up from September's reading of 50.2.
"October’s HSBC Flash China Manufacturing PMI rose to a seven-month high of 50.9 on the back of broad- based modest improvements," said Hongbin Qu, chief economist, China at HSBC.
"This implies that China’s growth recovery is becoming consolidated into 4Q following the bottoming out in 3Q. This momentum is likely to continue in the coming months, creating favorable conditions for speeding up structural reforms."
Here's a breakdown of the manufacturing PMI report:
Markit Economics/HSBC
Last month's report showed that "new business from overseas increased for the first time in six months." The increase was marginal and the stronger demand came from Europe and the U.S. This report showed an increase increase in export orders, at a faster rate.
Here's a look at the uptick in China's HSBC manufacturing PMI report:
Markit Economics/HSBC
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