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M. Continuo

China's September official PMI steady at 51.1


    BEIJING (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)