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China Manufacturing Shows Six-Month High Rise

China’s manufacturing rose to a six-month high in September, in the latest sign that the world’s second biggest economy is gradually recovering from a prolonged slowdown.

The preliminary version of HSBC’s purchasing managers’ index released Monday climbed to 51.2 from 50.1 in August on a 100-point scale. Numbers above 50 indicate an expansion in activity.

The survey is another encouraging sign for China’s leaders as they try to reverse a slowdown that dragged down growth to a two-decade low of 7.5 percent in the latest quarter. It adds to other recent indicators including improved trade, factory output and auto sales, that suggests the slowdown is leveling out.

HSBC’s survey found output, new orders and work backlogs all increased at a faster rate during the month. New export orders also rose.

“The firmer footing was supported by simultaneous improvements of external and domestic demand conditions,” HSBC China economist Qu Hongbin said.

via Mainichi [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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