China official PMI reaches 51.2 in Oct

2016-11-01 15:12:00 sxcoal.com

The official Purchasing Managers' Index (PMI) rose to 51.2 in October, above the 50-point mark that separates growth from contraction on a monthly basis, compared with the reading of 50.4 last month, jointly announced by National Bureau of Statistics (NBS) and China Federation of Logistics & Purchasing (CFLP) in a statement on November 1.


It indicated a robust strengthening of activity in China's manufacturing sector in October, and China's economy is stabilizing.


A sub-index for small and medium-sized firms fell to 49.9 and 48.3, compared with 48.2 and 46.1 in September, while performance at large companies slightly fell to 52.5 compared with 52.6 last month.


Factory output increased to 53.3 in October from 52.8 in September, and total new orders stood at 52.8, notably rising from September's 50.9, the PMI showed.


The employment sub-index rose to 48.8, compared to 48.6 in September, signaling a slightly slower contraction of labors in manufacturing enterprises.


Separately, the private Caixin/Markit purchasing managers' index released on the same day showed factory activity increased to 51.2 in October from September's 50.1.


The official survey looks more at larger, state-owned firms, while the Caixin survey focuses on smaller firms.



(Writing by Tammy Yang   Editing by Harry Huo)
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