BEIJING, Oct 1 (Reuters) - Growth in China’s manufacturing sector steadied in September as an official Purchasing Managers’ Index (PMI) hovered at 51.1, a touch ahead of forecasts and welcome news for some investors who fear the Chinese economy is cooling too fast.
A PMI reading above 50 indicates growth on a monthly basis, and a reading below that points to contraction.
The final median forecast of 29 analysts polled by Reuters was for a PMI reading of 51.0. The index stood at 51.1 in August. (Reporting by Koh Gui Qing; Editing by Kim Coghill)