01 October 2013 03:35 [Source: ICIS news]
SINGAPORE (ICIS)--China’s official purchasing managers’ index (PMI) edged slightly higher to 51.1 in September from 51.0 in August, amid an increase in new orders and exports, official data showed on Tuesday.
PMI is a barometer of an economy's manufacturing activities, with a reading above 50% indicating an expansion, and a lower number denoting a contraction.
The new orders sub-index rose to 52.8 in September from 52.4 in August, data from the China Federation of Logistics and Purchasing (CFLP) showed.
The new export orders index stood at 50.7 in September, up from 50.2 in August, according to the CFLP.
The official PMI mirrored investment banking firm HSBC’s final reading of it PMI for China which grew marginally to 50.2 in September from 50.1 in August.
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