Weaker PMI casts doubt on China rebound
Add BT as a preferred sourceCHINA'S official purchasing managers index (PMI) came in at a lower than expected 51.1, the second set of disappointing data in less than a week, data released by the National Bureau of Statistics (NBS) showed yesterday.
While the index hit a 17-month high, it was only fractionally higher than August's and stood below a Bloomberg poll of analysts that forecast a figure of 51.6. There had been hopes for a stronger rebound amid recent signs that the economy was on the road to recovery.
"Although overall manufacturing is stable, development is not balanced," said Zhao Qinghe, senior statistician at the NBS in a comment accompanying the PMI.
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