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

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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.

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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.

Keep reading...Show less