The Business Times

HSBC's China PMI for Sept lower than flash estimate

Despite a pick-up in export orders, domestic demand remains unchanged

Published Mon, Sep 30, 2013 · 10:00 PM
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HSBC's final China purchasing managers' index came in substantially lower than the forecast published a week ago.

September PMI was 50.2 points, a touch higher than the August figure and lower by nearly one point compared to the flash PMI released earlier. A reading above 50 indicates expanding activity and one below signals contraction.

Though the index expanded for a second consecutive month after hitting an 11-month low last July, many analysts have warned that the much-trumpeted rebound might not continue into next year as China still needs to reform major sectors of the economy and move to a more sustainable growth model.

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