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Growth In China's Manufacturing Industry Eases Concerns During Economy's Recovery

TheStreet Staff
9/23/14 1:07 PM EDT
Growth in China's sprawling manufacturing industry unexpectedly ticked higher in September, according to a report Tuesday, easing concerns about the number two economy's recovery. HSBC's Purchasing Manager Index edged up to 50.5 this month from 50.2 in August. Numbers above 50 indicate an expansion. Analysts had expected the reading to fall for a second month due to the slumping property market. The modestly upbeat number comes after an official report earlier this month showed China's factory output slowed sharply in August, which sparked fears momentum was fading and urged some analysts to lower their full-year economic growth forecasts. China's economic growth edged up in the April-June quarter to 7.5% after policymakers rolled out a batch of relief measures aimed at areas including railways and public housing. But analysts say further increments in growth will be hard to achieve without more government spending.

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