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Growth in China’s Manufacturing Sector Slows
Expansion of manufacturing activities in China slowed in October, according to the country's officially sanctioned Purchasing Managers Index.
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Expansion of manufacturing activities in China slowed in October, according to the country's officially sanctioned Purchasing Managers Index.
The index dropped from 51.1 in September to a five-month low of 50.8 in October. Any rating above 50 indicates growth, but analysts had expected the measure to improve slightly last month.
The measure shows widespread weakness across China's manufacturing sector. Sub-indexes declined for production, new orders and new export orders. Employment improved slightly from September but at 48.4 is still contracting.
The disappointing index report comes two weeks after China's National Bureau of Statistics reported that manufacturing output climbed 8% year on year in September. But the bureau also said growth in the country's gross domestic product slowed to 7.3% in the third quarter from 7.5% in April-June.
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