China’s Oct manufacturing PMI meets expectations
by ChemOrbis Editorial Team - content@chemorbis.com
Data released by China’s National Bureau of Statistics showed that China’s official manufacturing Purchasing Managers’ Index (PMI) decreased to 51.6 in October from the reading of 52.4 in September. A reading above 50 indicates expansion, while a reading below that signals contraction.
The growth rate, meanwhile, met the economists’ expectations of a reading around 51.
Manufacturing activity grew at the slowest pace in four months amid the ongoing environmental inspections and lower inventory levels.
Meanwhile, the country’s GDP expanded 6.8% on a yearly basis during the third quarter of 2017 from a 6.9% expansion in the previous quarter.
The growth rate, meanwhile, met the economists’ expectations of a reading around 51.
Manufacturing activity grew at the slowest pace in four months amid the ongoing environmental inspections and lower inventory levels.
Meanwhile, the country’s GDP expanded 6.8% on a yearly basis during the third quarter of 2017 from a 6.9% expansion in the previous quarter.
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