China's Manufacturing PMI Rises to 50.1 in October, Returning to Expansion After Five Months

Oct 31, 2024, 02:38 AM

China's factory activity expanded in October for the first time since April, as the official Manufacturing Purchasing Managers' Index (PMI) rose for the second consecutive month to 50.1 from 49.8 in September, exceeding forecasts of 49.9. This marks a return to expansion territory after five months below the 50% threshold. The Non-Manufacturing PMI increased to 50.2 from 50.0, slightly below the expected 50.4, indicating a modest acceleration in the services sector. The Composite PMI rose to 50.8 from 50.4. The data, released Thursday by the National Bureau of Statistics, suggests that recent policy support measures may be starting to boost growth momentum in the world's second-largest economy.