20 September 2012 05:04 [Source: ICIS news]
SINGAPORE (ICIS)--HSBC’s September flash purchasing managers’ index (PMI) for China rose to a two-month high of 47.8, indicating that the country’s manufacturing sector is still contracting, but at a slower pace.
The flash PMI number for September was 0.2 points higher than August’s 47.6, HSBC said in a statement.
A figure above 50 indicates an expansion, while a figure below 50 represents a contraction.
Output, as measured by HSBC’s Flash ?xml:namespace>
“Manufacturing activities remain lacklustre, thanks to weak new business flows and a longer-than-expected destocking process,” Qu said.
The recent easing measures by Beijing is expected to lead to a modest improvement in manufacturing output from the fourth quarter of this year, Qu added.
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