Free Trial

MNI BRIEF: Caixin China Oct Mfg PMI Stays in Contraction Zone

MNI (Singapore)
MNI (Beijing)

China's October Caixin manufacturing PMI edged up 1.1 points to 49.2 , remaining in the contraction zone below 50 for a third consecutive month amid measures to curb renewed Covid-19 outbreaks, the financial publisher said Tuesday.

Both the production and new orders sub-indices stayed in contraction territory for a second and third month, respectively. The new export orders sub-index also contracted for a third month amid a slowing global economy, with some exporters reporting difficulties in transportation, Caixin said.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on Monday, covers mainly large state-owned companies and fell 0.9 points to 49.2 in October.

True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.