Caixin PMI points to stabilising China economy in Sept

Beijing

A CLOSELY-WATCHED purchasing managers' index (PMI) in China stabilised in September, suggesting that the slowdown in the world's second-largest economy is bottoming out.

The Caixin PMI, which tracks the manufacturing sector and is derived from a survey of 430 private-sector industrial companies, came in at 50.1, in line with market expectations. This was slightly higher than the August figure of 50 and the second strongest reading in 19 months.