China's Manufacturing Sector Activity Expands Again in October

Forex - Manufacturing activities in China began to expand again among small manufacturers in October. The Caixin/S&P Global Manufacturing Purchasing Managers' Index (PMI) stood at 50.3 in October, surpassing the median forecast of 49.7. The index was recorded at 49.3 in September, 50.4 in August, and 49.8 in July. The official PMI data released on Thursday also indicated that manufacturing activities in China expanded for the first time since April. The Caixin series tends to focus more on exporters and private sector companies, compared to the official PMI data, which is composed of larger and state-owned enterprises. Caixin Insight Group senior economist Wang Zhe stated, "Both supply and demand have expanded. While overall market demand is recovering, production has steadily increased." Wang Zhi noted that new orders received by Chinese manufacturers recorded the fastest growth in the last four months, thanks to "underlying demand conditions and ongoing efforts in new business development."