HSBC China flash PMI hits 7-month high in Oct1 hour ago...

HSBC China flash PMI hits 7-month high in Oct
1 hour ago

Industries
Manufacturing
Economy
China

By a staff reporter

Activity in China's manufacturing sector expanded more than expected in October, rising to a seven-month high, according to a leading survey.

HSBC's manufacturing purchasing managers' index printed at 50.9 for the month, a lift on 50.2 in September.

Bloomberg had expected the index to print at 50.4.

Any reading above 50 indicates expansion.

HSBC chief economist, China, Hongbin Qu said the rise came on the back of broad-based modest improvements.

"This implies that China's growth recovery is becoming consolidated into the fourth quarter following the bottoming out in the third quarter," he said.

"This momentum is likely to continue in the coming months, creating favourable conditions for speeding up structural reforms."