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China Sept official PMI edges up but small firms struggle
October 1, 2013 / 1:14 AM / 4 years ago

China Sept official PMI edges up but small firms struggle

BEIJING, Oct 1 (Reuters) - China’s manufacturing growth edged up only slightly in September with the official Purchasing Managers’ Index (PMI) at 51.1 from from August’s 51.0, below expectations and adding to worries that its economic recovery has foundered.

The PMI showed a split between bigger manufacturers and small firms, with the sub-index for the latter below the 50 mark that separates contraction from expansion, according to a breakdown of the data from the National Bureau of Statistics on Tuesday.

Economists polled by Reuters had expected the official PMI to rise to a 17-month peak of 51.5.

Chinese factories have sent mixed signals on the extent of their latest rebound. A separate manufacturing PMI issued by HSBC on Monday showed manufacturing grew less than expected last month on soft domestic demand.

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