THINK WE MAY HAVE A TURN AROUND ON MONDAY AFTER THIS REPORT CAME ON SATURDAY MORNING.....THE punters had priced in a worsening result.......not a rise as shown.....this is the official PMI.......not the HSBC VERSION which showed growth slowing...which was released earlier....
BEIJING, Oct. 1 (Xinhua) -- China's Purchasing Managers' Index (PMI) continued to rise to 51.2 percent in September from 50.9 percent in August, the China Federation of Logistics and Purchasing (CFLP) said Saturday.
The CFLP report said the 0.3 percentage-points rebound marks the PMI rising for two consecutive months, indicating the economic development is continuing to stabilize.
PMI is a gauge of manufacturing expansion. A reading below 50 indicates contraction from the previous month, while a reading above 50 indicates expansion. China's PMI had declined for four months in a row to a low of 50.7 percent in July before rebounding to 50.9 percent in August.
The manufacturing index from the logistics federation is based on a survey of purchasing managers in more than 820 companies in 20 industries
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