Chinese manufacturing activity expanded in October at a slower pace than in the previous month as output weakened on softer demand in the world’s No. 2 economy, according to an official survey released Tuesday.
The purchasing managers’ index fell to 51.6 from September’s 52.4, based on a 100-point index on which the 50 mark divides expansion from contraction.
The Federation of Logistics & Purchasing’s report found that production grew at a slower pace than the month before.
Both new export orders and overall new orders weakened, but the latter slowed at a faster pace, indicating flagging demand, especially from domestic customers.Read the Article