China’s manufacturing performance in September rose to its highest level since April, boosted by growth in export orders and purchasing, AP reported, citing an index developed by HSBC (HSB.NYSE, HSBA.LSE, 0005.HK) to track manufacturing activity. The HSBC China Purchasing managers’ Index rose to 52.9 in September from 51.9 last month, the highest figure in five months. A number above 50 indicates an expanding manufacturing sector. The report said HSBC expects China’s economy to grow by around 9% for the rest of the year. However, it also noted substantial increases in raw material costs and inflation. China has recorded an inflation rate of 2.8% in the first eight months of the year, very close to the government ceiling of 3%.
Categories