Back
1 Nov 2013
China HSBC PMI unchanged at 50.7, strongest improvement in 7 months
FXstreet.com (Barcelona) -The HSBC Purchasing Managers’ Index (PMI) came at 50.9 in October, unchanged from the earlier flash reading, and 0.7 bp rise from 50.2 in September. It is the strongest improvement in seven months.
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The final HSBC China Manufacturing PMI rose to a seven-month high in October, with the stronger momentum of manufacturing growth translating into the first expansion of employment since March. This in turn should support private consumption growth in the coming months. China is on track for a gradual growth recovery."
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The final HSBC China Manufacturing PMI rose to a seven-month high in October, with the stronger momentum of manufacturing growth translating into the first expansion of employment since March. This in turn should support private consumption growth in the coming months. China is on track for a gradual growth recovery."