China’s Official PMI Drops To 50.8 In October

China’s official purchasing manufacturing managers’ index (PMI) declined to a five-month low in October to 50.8, below market expectations of 51.2, according to data released by China’s National Bureau of Statistics.

New order index declined 0.6 percentage points to 51.6 from September’s 52.2, with production index also falling by 0.5 percentage points to 53.1 in October.

"The weaker-than-expected reading of official PMI suggests that the easing bias in the monetary policy will be maintained," says ANZ Greater China chief economist Liu Ligang in a research report.

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