China’s manufacturing unexpectedly down in October
Reduced production and new export orders were the main factors that pushed the country’s manufacturing sector into contraction zone.
A PMI reading below 50 indicates contraction in the manufacturing sector, while a reading above that level suggests growth.
Meanwhile, China’s official non-manufacturing index fell to 50.6 in October from 51.7 in September, the lowest level since December 2022, amid slower activities in construction and services sectors.
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