Soft domestic demand hits China Sept final HSBC PMI
Tuesday, 1 October 2013 00:10
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BEIJING (Reuters): China’s factory sector grew only slightly in September as domestic demand faltered, a private survey showed, an unexpectedly weak outcome that suggests a firm rebound in Asia’s economic powerhouse still remains elusive.
The final HSBC Purchasing Managers’ Index (PMI) edged up to 50.2 from August’s 50.1, figures on Monday showed.
Although a five-month high and showing the sector was growing, the survey was disappointing for investors as it was well below last week’s flash reading of 51.2, with domestic orders weaker than preliminary estimates suggested.
New export orders picked up the slack, climbing to 50.7 from 47.2 in August to be above the 50-point mark separating expansion from contraction. After seasonal adjustments, however, the expansion was slight, HSBC said.
