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China's manufacturing shrinks, signaling recovery still fragile
![IndiaTimes]()
Tuesday, 31 October 2023
The official manufacturing purchasing managers index fell to 49.5 this month from 50.2 in September, according to a statement from the National Bureau of Statistics. That compares with an estimate of 50.2 in a Bloomberg survey of economists. The non-manufacturing gauge, which measures activity in the construction and services sectors, declined to 50.6 from 51.7, lower than the forecast of 52. The 50 level separates growth from contraction. While the data is affected by seasonality due to an eight-day public holiday at the beginning of October, it also shows market demand remains weak.
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Tuesday, 31 October 2023
