PMI: China’s Economy is Still Holding Up
via MarketPulse:
China’s manufacturing activity grew at its fastest pace in 18 months in October, official data on Friday showed, a positive sign from the world’s second biggest economy after a recent run of disappointing numbers.
The official Purchasing Managers’ Index (PMI) rose to 51.4 in October from 51.1 in September and was above analyst expectations for a reading of 51.2. It remained comfortably above the 50-mark that divides expansion from contraction.
HSBC meanwhile said that the final reading of its China October PMI was 50.9, unchanged from a flash estimate released last week. On this measure, the Chinese manufacturing sector grew at its fastest pace in seven months, lifted by new orders.
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