A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction.
The manufacturing purchasing managers™ index rose to to 49.8, according to data released by the National Bureau of Statistics on Monday. That™s better than the 49.6 forecast in a Bloomberg survey of economists.
The non-manufacturing gauge was 53.7, above the 50 level that divides expansion from contraction.
A separate PMI focused more on smaller, export-orientated firms due later Monday is forecast to show a slowing expansion.
The improved result comes after economic activity slowed in August, with industrial output growing at the slowest pace for a single month since 2002. A set of early data collated by Bloomberg showed that trend continuing in September.
Industrial output may see a pickup from the very weak increase in August, China International Capital Corp. economists led by Eva Yiwrote in a note before the data. However, based on the current trend, the œdownside risk for third-quarter GDP has increased materially, highlighting the urgency for more decisive and effective counter-cyclical efforts.
Source: Bloomberg
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