Chinese manufacturing activity ticked up more slowly than expected in September, according to a survey Monday, a sign the gradual recovery in the world’s No. 2 economy from an extended slowdown could be more fragile than thought.
A survey by HSBC Corp. showed that manufacturing activity expanded marginally this month, rising to 50.2 from August’s 50.1. But it surprised analysts by coming in much lower than the 51.2 in a preliminary version earlier this month. The index uses a 100-point scale on which numbers below 50 indicate contraction.
HSBC said the reading was still positive because although it expanded only slightly, it showed further improvement from July, when the index hit an 11-month low.
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