HSBC’s China Manufacturing Purchasing Managers’ Index is at a two month high on the back of improved export and domestic orders, according to the flash summary released today.
HSBC’s China Manufacturing Purchasing Managers’ Index is at a two month high on the back of improved export and domestic orders, according to the flash summary released today.
HSBC’s China Manufacturing Purchasing Managers’ Index is at a two month high on the back of improved export and domestic orders, according to the flash summary released today.
The flash index, which surveys over 400 manufacturing companies, is an estimate designed to provide an early but accurate summary of the industry’s performance.
HSBC chief economist (China) Hongbin Qu said the index rose to 50.5 in the flash reading for September, up from the final reading of 50.2 in August.
“The picture is mixed, with new orders and new export orders registering some improvement,” he said.
“Meanwhile, the employment index declined further and disinflationary pressure intensified.
“Economic activity in the manufacturing sector showed signs of stabilization in September.
“However, overall the data still point to modest expansion.
“The property downturn remains the biggest downside risk to growth.
“We continue to expect more monetary easing from the PBoC (People’s Bank of China) in order to steady the recovery.”
Rank | Company | # | |
---|---|---|---|
9th | Bank of Queensland | 11 | |
10th | Beyond Bank Australia | 7 | |
11th | HSBC | 4 | |
12th | Teachers Mutual Bank | 2 | |
13th | Ledge Finance | 2 |