China’s Oct Official PMI Hit 18-Month High

China’s official manufacturing purchasing managers’ index (PMI) reached 51.4 in October, up 0.3 points from September.

The data is the highest for the past 18 months, indicating an improved manufacturing sector and preliminary establishment of a steady economic growth, according to China’s National Bureau of Statistics.

Large enterprises PMI rose 0.2 points to 52.3; medium enterprises PMI increased 0.5 points to 50.2; small businesses PMI declined 0.3 points to 48.5.

Specifically, the production index, raw material inventory index and employment index increased, new export order index decreased while supplier delivery time index remained unchanged from last month.

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