According to the National Bureau of Statistics, China’s manufacturing sector slowed in October with the country’s manufacturing purchasing managers’ index came in at 50.2 in October, narrowing from 50.8 in September, weakest pace in over two years, hurt by slowing domestic and external demand, in a sign of deepening cracks in the economy from an intensifying trade war with the United States. Sub-index for production edged down from 53 in September to 52 in October, while the sub-index for new orders dipped from 52 in September to 50.8 in October.
NBS senior statistician Zhao Qinghe said “The manufacturing sector, in general, continued to expand at a slower pace. The fundamental of the manufacturing sector remains stable. Manufacturing supply and demand in October experienced fluctuations due to factors including the National Day holiday and a complicated external environment.”
Source : STRATEGIC RESEARCH INSTITUTE, STEELGURU
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