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MNI BRIEF: China's Oct PMI Falls Back To Contraction At 49.5

MNI (Singapore)
MNI (Beijing)

China's manufacturing Purchasing Managers' Index fell by 0.7 points to 49.5 in October, falling back to the contractionary zone below the breakeven 50 mark, indicating that the foundation for continued recovery requires further consolidation, data from the National Bureau of Statistics showed Tuesday.

The production sub-index declined by 1.8 points to 50.9, impacted by a higher comparison base in September and fewer working days in October. The new orders and new export orders sub-indices also decreased by 1 point to 49.5 and 46.8, respectively.

Non-manufacturing PMI registered 50.6, declining from last month's 51.7. The business activity index in the service sector fell by 0.8 pp to 50.1 despite the week-long National Day holiday boom.

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