In September this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) increased to 50.5, higher than the anticipated level of 50.0 and up from August's final reading of 50.2, as announced by the HSBC on September 23. In particular, in September the index for employment declined to 46.9, falling to the lowest level since February 2009 and remaining below 50 for the 11th consecutive month.
Hongbin Qu, the HSBC's chief economist for China, said that Chinese manufacturing in September has showed signs of stabilization, while the sluggishness of the real estate sector still represents the largest risk for the overall economy. He added that more monetary easing is expected from the central bank in order to steady the economic recovery.