China’s giant manufacturing sector grew at its fastest rate in seven months in October, buoyed by new export orders, a private survey showed on Friday, adding to signs that the economy is stabilizing in the run up to a key government meeting on economic reform.
The final HSBC/Markit Purchasing Managers’ Index (PMI) came in at 50.9, up from 50.2 in September and unchanged from a preliminary flash estimate released last week.
A reading above 50 indicates expansion, while a figure below this indicates a contraction. China’s official PMI released earlier in the day put manufacturing growth at 51.4, the highest in 18 months.
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