Financial News: China Manufacturing PMI Eases In September - S&P

China Manufacturing PMI Eases In September - S&P Global

(RTTNews) - The manufacturing sector in China continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a Performance of Manufacturing Index score of 52.0.

That was down from 52.1 in September although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

China's manufacturing output expanded at a rate that was sharp and the fastest in six months, underpinned by another solid increase in new work inflows. According to panelists, October's demand growth was driven by the launch of new products and improvements in production capabilities, while firms' own business development efforts also bore fruit.

Exporters also reported higher sales volumes at the start of the fourth quarter, albeit with the rate of growth slowing from September's high. To cope with the increased workloads, firms hired additional staff in October. The rate of job creation was only marginal, however, and did little to address capacity pressures as the level of unfinished work continued to increase at a steady pace over the latest survey period.

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