China's manufacturing activity rose to 7-month
high in October boosted by a mini-stimulus program that includes faster spending
on urban transport, tax breaks for business.
The Flash China Manufacturing PMI (purchasing
managers index) was at 50.9 (50.2 in September) - - a seven-month high. The
no-change level of activity is 50. Meanwhile, Flash China Manufacturing Output
Index was at 51.0 (50.2 in September) - - a six-month high.
Data collected 11–22 October 2013.
The HSBC Flash China Manufacturing Purchasing
Managers’ Index is published on a monthly basis approximately one week before
final PMI data are released, making the HSBC PMI the earliest available
indicator of manufacturing sector operating conditions in China. The estimate is
typically based on approximately 85%–90% of total PMI survey responses each
month and is designed to provide an accurate indication of the final PMI data.
Hongbin Qu, chief economist, China & Co- Head
of Asian Economic Research at HSBC said: "October’s HSBC Flash China
Manufacturing PMI rose to a seven-month high of 50.9 on the back of broad-based
modest improvements. 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
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