China Sept. HSBC manufacturing PMI at 50.2

BEIJING
The HSBC China Manufacturing Purchasing Managers' Index edged up to a final reading of 50.2 in September from 50.1 in August, HSBC Holdings PLC said Monday
A PMI reading above 50 indicates on-month expansion in manufacturing activity and a reading below indicates contraction
"Though only slight, this was a positive development, with the PMI signalling a further improvement upon July's 11-month low," HSBC's chief economist for China, Qu Hongbin, said in a statement
New business from abroad increased for the first time in six months and stocks of finished goods declined for the third successive month, the statement said
"Growth is bottoming out on Beijing's mini-stimulus," Mr. Qu said. "We expect continuous policy efforts to sustain the recovery."
The HSBC China Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in more than 420 manufacturing companies
The final gauge of nationwide manufacturing activity, however, was lower than HSBC's preliminary September PMI of 51.2 announced Sept. 23
The preliminary figure is based on 85% to 90% of responses to its PMI survey
.