China Official PMI Steady at 51.1

China’s manufacturing activity stayed steady in September, data showed Wednesday, a sign that economic growth is stabilizing.

The official Purchasing Managers’ Index (PMI) came in at 51.1, unchanged from August and a tad higher than Reuters’ expectations or 51.0. The reading also kept above the 50-mark which separates expansion from contraction.

Markets showed limited reaction to the news, with both Shanghai and Hong Kong closed for a public holiday. The Australia dollar also shrugged off the data.  The data follows Tuesday’s release of the HSBC final PMI reading for the month which came in at 50.2, also unchanged from the month before.


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