by Chris Becker
Straight from Markit, more to follow:
“The HSBC China Manufacturing PMI was revised down slightly to 50.2 in the final reading for September from the flash reading of 50.5, and unchanged from the August reading.
Output and new orders were both revised down. Meanwhile, the employment and price sub-indices were revised up, although both remain at relatively low levels.
The new export orders sub-index rose to its highest reading since March 2010. Overall, the data in September suggest that manufacturing activity continues to expand at a slow pace.
We think risks to growth are still on the downside and warrant more accommodative monetary as well as fiscal policies.”
The market reaction has been minor – the AUDUSD rose slightly on the result, now at 8720 after touching below the 87 handle on the Tokyo open while the ASX200 was flat, the Nikkei is down in early trade.