China’s Oct manufacturing PMI meets expectations

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.