China Manufacturing Gauge Increases to Six-Month High - Bloomberg

A Chinese manufacturing index rose to a six-month high in September, adding to signs of a rebound in the world's second-largest economy after a two-quarter slowdown. The preliminary reading of 51.2 for a Purchasing Managers' Index released today by HSBC Holdings Plc and Markit Economics compared with a median estimate of 50.9 from 14 economists surveyed by Bloomberg News. The gauge had increased to 50.1 in August, signaling expansion with the first above-50 reading since April. The report suggests an economic pickup over the previous two months is extending into September, boosting PremierLi Keqiang's odds of meeting the year's 7.5 percent expansion goal. Industrial production and the government's broadest measure of credit rose more than forecast in August, data earlier this month showed, indicating leaders are committed to achieving targets even with added financial risks. The final reading of the manufacturing PMI from HSBC and Markit will be released Sept. 30. The National Bureau of Statistics releases the government's manufacturing PMI, with a broader sample size, on Oct. 1. To contact Bloomberg News staff for this story: Scott Lanman in Beijing at slanman@bloomberg.net To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFvBJ4-hI3Y1aAG_0m7tbkXB9Qfow&url=http://www.bloomberg.com/news/2013-09-23/china-manufacturing-gauge-rises-to-highest-level-in-six-months.html

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