China Flash PMI hits six month high

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The HSBC Flash PMI for September has just been released, with the index hitting a six-month high of 51.2 points, up from 50.1 points in August. A reading above 50 points indicates the sector is expanding.

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Moreover, the improvement was across the board:

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According to HSBC:

“The HSBC Flash China Manufacturing PMI rose to a six-month high in September, adding further evidence to China’s ongoing growth rebound. The firmer footing was supported by simultaneous improvements of external and domestic demand conditions. We expect a more sustained recovery as the further filtering-through of fine-tuning measures should lift domestic demand. This will create more favourable conditions to push forward reforms, which should in turn boost mid- and long-term growth outlooks.”

Press release below.

HSBC China Flash PMI (23 Sept 2013)

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.