China: Caixin Composite PMI rose to 51.9 in September – TD Securities

Analysts at TD Securities note that China’s Caixin Composite PMI rose to 51.9 in September from 51.6 in August in part driven by faster growth in the manufacturing sector.

Key Quotes

“New Orders rose to 52.9 from 51.9 in August. Conversely, the services PMI fell to 51.3 in September from 52.1 in August (mkt 52.0). Looking into the sub-components, employment rose to 52.4 from 51.6 in August, the highest reading since January 2017, whereas prices charged fell from August.”