China's October manufacturing PMI fell 0.8pt to 49.3, the non-manufacturing
business activity index declined 0.5pt to 49.7 and the composite output PMI
dropped 1.0pt to 49.7, indicating a month-on-month cooling in activity. The
manufacturing production index fell 1.9pt to 49.8 and new orders fell 1.1pt to
49.4, with both supply and demand showing slower momentum. The NBS cited demand
pulled forward ahead of the Golden Week holiday and a more international complex
environment as pressures on the sector. Stronger production and new orders
(≥53.0) were recorded in railway/ship/aircraft/aerospace equipment and
computer/communication/electronics; textiles, non-metallic mineral products and
non-ferrous metal smelting/rolling registered production and new orders below
the 50 threshold.
