02.11.2014 11:00:35

China October Manufacturing PMI Hits Five-month Low

(RTTNews) - China's manufacturing activity dropped to a 5-month low in October, the data from National Bureau of Statistics and China Federation of Logistics and Purchasing showed Saturday.

The manufacturing PMI slowed to 50.8 in October, compared to September reading of 51.1. The index was also below the expected score of 51.2.

A reading above 50 indicates expansion, while that below 50 represents contraction.

Business orders fell. The new orders index fell to less than 52 percent, down 0.6 percent from the previous month. October new export orders index also declined, down to less than 50 percent.

The subindex measuring production fell to 53.1 from 53.6.

Medium-sized new orders index fell 2.2 percent last month, down to less than 50 percent. Small Business new orders index continued to fall below 50 percent.

Purchasing volume index fell 0.5 percent to 50.7 percent. Meanwhile, employees index has increased, reflecting the employment situation is good.

The flash HSBC manufacturing PMI rose to 50.4 in October from 50.2 in September. The final reading for October is due Monday.