China’s manufacturing grew at the fastest pace since 2012 in September. The PMI (Purchasing Managers’ Index) released recently rose to 52.4 in September from 51.7 in August. This was the 14th straight month of expansion for China’s manufacturing industry and the highest reading since April 2012.
China International Capital Corporation reported that, “Over the short term, we believe the resilient demand growth and disciplined balance sheet expansion … will point to further improvement in manufacturing profitability and investment returns.”