Chinas Manufacturing PMI Drops to 49.3% in October
Chinas manufacturing PMI fell to 49.3% in October, indicating a decline in sector prosperity amid challenging conditions.
Beijing, October 31 (Daily Kiran) : China’s manufacturing sector faced a setback in October, with the Purchasing Managers’ Index (PMI) registering at 49.3%, according to data released on October 31 by the National Bureau of Statistics and the China Federation of Logistics and Purchasing. This marks a decline of 0.8 percentage points from the previous month, signaling a downturn in manufacturing activity.
The manufacturing production index and new orders index were reported at 49.8% and 49.4%, respectively, reflecting decreases of 1.9 and 1.1 percentage points from September. These figures indicate a challenging environment influenced by early demand releases ahead of the National Day holiday and complex international conditions.
Despite the overall decline, certain sectors showed resilience. The PMI for high-tech manufacturing and equipment manufacturing remained above the critical threshold, recorded at 51.3% and 50.6%, respectively.
Regarding price indices, Hua Lihui, a chief statistician at the National Bureau of Statistics, noted that the purchasing price index for key raw materials in the manufacturing sector stood at 56.8%, while the ex-factory price index was at 51.7%.
These statistics reflect the ongoing challenges and shifts within China’s manufacturing landscape.
