China's official manufacturing PMI hit 50.1 in September, the first reading above 50 in three months, days after the PBOC cut a policy lending rate and unveiled a first-time-buyer mortgage subsidy, stimulus stacked before the data even printed.
Mysteel notes 12 of 21 surveyed industries printed above 50 in September, four more than in August, as official manufacturing PMI returned to expansion. Source
China's official manufacturing PMI printed 50.1 in September, up from 49.8 and matching consensus, the first reading above the 50 expansion threshold in three months. The non-manufacturing gauge jumped to 50.2 from 49.0, well ahead of the 49.2 forecast, and the composite output index rose to 50.7 from 49.5. Data via the National Bureau of Statistics.
