China: manufacturing activity fell less in October than in September -Caixin | Photo credit: Shutterstock
SINGAPORE (Agefi-Dow Jones)–Manufacturing activity in China contracted for the third consecutive month in October, but at a slower pace than in September.
The manufacturing PMI released by Caixin rose to 49.2 in October from 48.1 in September, according to data released Tuesday by Caixin Media and S&P Global. Below 50, the index indicates a contraction in activity.
The official manufacturing PMI, released Monday by the National Bureau of Statistics, also signaled a contraction in activity from September. The official index focuses more on large public companies than Caixin’s.
The Chinese manufacturing sector remains penalized by Beijing’s “zero-Covid” policy, with health restrictions weighing on both production and demand.
-Singapore Office, Dow Jones Newswires
(French version Valérie Venck) ed: ECH
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