Chinese manufacturers were upbeat about business in a survey, which should help ease fears of a hard landing.
HSBC’s China purchasing managers’ index rose from 51.9 in August to a five-month-high of 52.9 this month, thanks to higher survey readings of production and new business. In July, the index fell below the key 50 threshold which separates expansion from contraction.
Qu Hongbin, China chief economist at HSBC, said the “upbeat reading” implied the growth slowdown seen in previous months was decelerating.
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