Economics
China Factory Gauge at 2-Year High Eases Pressure for Stimulus
- Manufacturing PMI at 50.4 for 2nd month, services rise to 53.7
- Report comes as three big cities act to cool property markets
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China’s official factory gauge stayed at the highest level in almost two years for a second month and services increased in the latest evidence of continued economic stabilization, reducing prospects for more policy easing.
The manufacturing purchasing managers index remained at 50.4 in September, the National Bureau of Statistics said Saturday, compared with a median estimate of 50.5 in a Bloomberg economist survey and 50.4 the prior month. The non-manufacturing PMI rose to 53.7 from 53.5 in August. On Friday, the private Caixin Media and Markit Economics China Manufacturing PMI showed an increase to 50.1 last month. Numbers above 50 indicate improving conditions.