China's October factory activity contracts at fastest pace in 3 months, PMI survey shows
SPY•China’s official manufacturing PMI fell to 49.3 in October from 50.1 in September, marking its fastest contraction in three months and missing the 50.0 forecast.
1. Factory activity contracts
China’s official manufacturing purchasing managers’ index fell to 49.3 in October from 50.1 in September, the National Bureau of Statistics said. The reading was below the 50.0 forecast and reflected soft demand, including for exports. A reading below 50 signals contraction.
