This is the private survey PMI
Hits expectations at 50.1, and ahead of the prior month's lineball 50.0 result
From Markit (via Reuters):
- Domestic and export orders picked up
- Only a very marginal improvement
- Manufacturers continued to shed job
- Output expanded in September, but at the slowest pace in three months
- New orders also continued to show modest growth, with new orders edging into expansionary territory after nine months of contraction
- Despite easing to its slowest for nine months, the rate of job shedding remained marked overall. Around 8 percent of companies surveyed reported lower headcounts, with a number of firms attributing the fall to cost-cutting.
- But companies were able to pass along higher input costs and raise selling prices of their goods by a sharper pace than in August, suggesting they were regaining pricing power
- "The readings for the manufacturing PMI over the past three months seem to indicate that the economy has begun to stabilise," Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, said in a note accompanying the PMI report.
Adds Reuters:
- A construction boom fueled by government infrastructure spending and a housing market rally have helped to underpin growth
- Small and mid-sized private firms like those which dominate the Caixin survey have continued to struggle
