China’s PMI rises to a new three-month high at 50.2 in October
01 November 2012 03:37 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s purchasing managers’ index (PMI) increased to 50.2 in October from 49.8 in September, according to the data released by China Federation of Logistics Purchasing (CFLP) and National Bureau of Statistics on Thursday.
Manufacturing activity in the country expanded in October for the first time since in three months, the data showed.
China’s production index rose by 0.8 to 52.1 in October from September, indicating that the manufacturing sector is maintaining its growth, according to CFLP.
The country’s sub-index for new orders was at 50.4, up by 0.6 from the previous month. It is also the first time the reading rose to above 50 since May, showing improved market demand, the report said.
China’s PMI is based on a survey of 820 manufacturers in the country. A PMI reading at above 50 indicates expansion, while a reading below 50 means contraction.By: Dolly Wu+65 6780 4359
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