In October this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) increased to 50.9, reaching the highest level of the past seven months, following September's final reading of 50.2, as announced by the HSBC on October 24. The flash Chinese manufacturing output index for October reached a six-month high of 51, as compared to the final value of 50.2 for September, the HSBC said. The new orders sub-index climbed to 51.6, its highest level in seven months, from the final value of 50.7 for September. The sub-index measuring employment increased to 49.9 in October, up from 48.8 in September.
"The expansion of the October HSBC Flash China Manufacturing PMI suggests China's economic recovery will likely continue in Q4," said Hong bin Qu, the HSBC's chief economist for China. He went on to say that, considering that the new export orders sub-index in October was at 50.8, slightly above 50, the outlook for demand in the export market is not very bright. "The recovery in the manufacturing sector may continue, but it will mainly depend on the improvement of domestic demand", he added.
