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MNI BRIEF: China's Oct Manufacturing PMI Falls Below 50

MNI (Singapore)
MNI (Beijing)

China's Purchasing Managers' Index (PMI) slid to 49.2 in October from 50.1 in September, falling back to the contractionary zone below 50 after a brief rebound due to sporadic outbreaks of Covid-19 across the country, data from the National Bureau of Statistics on Monday showed.

Both the production and new orders sub-indices fell by 1.9 and 1.7 points from September to 49.6 and 48.1, respectively.

The non-manufacturing PMI dropped by 1.9 points to 48.7, falling below 50 for the first time since May when major cities like Shanghai gradually emerged from Covid lockdowns. The services activities sub-index also declined by 1.9 points to 47.0, with businesses in retail, transportation, accommodation and catering all falling further from a low level, according to the NBS.

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