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HSBC China flash PMI unexpectedly gains to 50.5

Published 09/22/2014, 10:18 PM
Updated 09/22/2014, 10:20 PM
China HSBC flash PMI unexpectedly gains

Investing.com - HSBC's China flash PMI for September unexpectedly rose to 50.5, above expectations of 50.0 and ahead of the August final of 50.2, a survey released on Tuesday showed.

"The HSBC China Manufacturing PMI rose to 50.5 in the flash reading for September, up from the final reading of 50.2 in August, said HSBC chief China economist Qu Hongbin.

"The picture is mixed, with new orders and new export orders registering some improvement. Meanwhile, the employment index declined further and disinflationary pressure intensified. Economic activity in the manufacturing sector showed signs of stabilization in September. However, overall the data still point to modest expansion. The property downturn remains the biggest downside risk to growth. We continue to expect more monetary easing from the PBOC in order to steady the recovery."

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