China manufacturing result surprises, Australian dollar rises then falls

​China’s flash PMI result for September surprised some with a reading of 50.5, up from 50.2 in August.

China’s flash PMI result for September surprised some with a reading
of 50.5, up from 50.2 in August.

The interim result for the month – prior to the final result
released in a week – was tipped by economists to be 50, the ABC notes.

50 is the line separating expansion from contraction in the
survey, which takes into account responses from 430 purchasing managers.

The employment sub-index, however, was at a five-year low of
46.9 in the figures.

“The employment index
declined further and disinflationary pressure intensified,” HSBC’s Hongbin Qu said, according to Fairfax.

The Australian dollar was up slightly in response to the news,
closing at US 89.12c yesterday.

It was down to US 88.42 cents at 7:15 this morning, News Corp reports.

Image: News Corp