RatingDog's China manufacturing PMI was 52.0 in October, the 11th consecutive
month in expansion. Output growth accelerated sharply, the fastest since April,
while new orders expanded at a pace roughly unchanged from September, extending
the expansion cycle toward 18 months. New export orders expanded for a fourth
month but slowed to a three-month low. Input-price inflation eased versus
September and fell below the year-to-date average; factory-gate prices fell
again, the second decline in three months, amid intensified competition.
Overall, manufacturing entered Q4 with steady expansion and strong output and
order momentum, though renewed price cuts and weaker business confidence are
risk factors to monitor.
