A China manufacturing index hit its highest level in six months on Monday, offering the first important measure of how the country’s economy performed in September and showing that a tentative reacceleration has continued as government support and firmer demand for Chinese exports have gained traction.
The HSBC manufacturing purchasing managers index — a survey that takes the temperature of China’s important factory sector — rose to 51.2 in September, from 50.1, topping analysts’ expectations.
Readings above 50 indicate expansion, so the September figure provided more evidence that the Chinese manufacturing sector is growing again after several months of contraction, while the economy as a whole has stopped decelerating.
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