The bank’s purchasing managers index (PMI) rose to 49.1 this month, its highest level in three months. Aided by an increase in new orders, the figure is the latest in a long line to suggest an improvement in fortunes for the world’s second biggest economy.
"The report confirms recovery in Chinese manufacturing seen in September’s industrial output data, and overall recovery of gross domestic product growth," said Dariusz Kowalczyk, senior economist at Credit Agricole CIB. "We continue to believe that gross domestic product growth momentum will keep improving in sequential terms.”
