China data – HSBC manufacturing PMI for September (final): 50.2 (vs. flash was 50.5)

HSBC China manufacturing PMI for September (final)

• The flash reading was 50.5
• Unchanged from the August reading

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Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:

• “Output and new orders were both revised down
• Meanwhile, the employment and price sub-indices were revised up, although both remain at relatively low levels
• The new export orders sub-index rose to its highest reading since March 2010
• Overall, the data in September suggest that manufacturing activity continues to expand at a slow pace. We think risks to growth are still on the downside and warrant more accommodative monetary as well as fiscal policies.”