HSBC latest data: September China's manufacturing PMI innovation high

The seasonally adjusted HSBC China manufacturing PMI rose from 51.9 in August to 52.9, the highest in 5 months, indicating a modest upturn in Chinese manufacturing, according to the latest HSBC data.　　The index, which has fallen below the 50.0 threshold since July, has rebounded more than 3 points, indicating that the growth momentum in manufacturing has continued to accumulate during the recent survey.　　The latest PMI data from the September survey showed faster growth in output and new business, only a small increase in employment, and a delay in supplier deliveries, the worst since April, and a 4th consecutive month of decline in procurement inventories. In the latest survey, China's manufacturing output rose and grew modestly (slightly more than the long-term average of the data). As to the reasons for the increase in production, the respondents considered that the major increase in the number of new business operations has been related to two consecutive months. The new business has grown in real terms, but it still lags behind strong growth in the first quarter of this year. The survey shows that the recent support for growth is the strong market demand. The new export business in September ended a 3-month decline and rebounded, but at a modest pace, employment continued to rise in September, but at a modest pace. On the reasons for the increase in employment, the respondents said that the new business growth.　　However, there are also surveys that say that employees retire or resign, offsetting job growth. The average cost of spending rose sharply in September, a sharp increase from last month. Manufacturers in general say the rise in raw material prices is a major driver of inflation, especially steel prices. Affected by this, manufacturers generally improve the price of products to maintain business space.　　Output prices rose significantly, the highest in 8 months and the 2nd consecutive month. The substantial increase in procurement activity in September was mainly attributable to the further increase in new business and the corresponding increase in production demand. Purchases have been growing for 3 months, the largest since April this month. In this effect, the average supplier speed of supply has been the most serious delay in 5 months.　　The survey sample pointed out that the supplier stock shortage, affecting the supply speed. As for inventories, the inventory of finished goods and purchases was slightly reduced during the survey.　　According to the feedback from the manufacturer, the reason for the decrease of purchasing stock is that the manufacturer has implemented the measures to straighten out the stock and use the existing stock in production. "The September HSBC manufacturing purchasing managers ' index continued to be good, indicating a slowdown in China's economic slowdown. New orders index upward, domestic demand remains strong. Despite an increase in external demand uncertainty, a large number of investment projects under construction and vibrant domestic consumption can still support the Chinese economy in the four quarter and next year to maintain the growth rate of about 9%.　　"said Qu Hongbin, HSBC's China chief economist. (Reporter Tri Ye)