The HSBC China Flash Manufacturing Purchasing Managers’ Index (PMI), a preliminary reading of the nation’s manufacturing activity, rose to a seven-month high of 50.9 in October, from 50.2 in September, HSBC Holdings Plc. (00005.HK) said in a statement Thursday. A reading above 50 indicates expansion in manufacturing activity. Output, news orders and new export orders increased at a faster rate, the statement said. “China’s growth recovery is becoming consolidated into fourth quarter following the bottoming out in third quarter. This momentum is likely to continue in the coming months, creating favorable conditions for speeding up structural reforms,” Hongbin Qu, chief economist for China and co-head of Asian Economic Research at HSBC, said in the statement.
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