China's RatingDog manufacturing PMI holds at 52.0 in October, an 11th month above 50 and above a 51.6 forecast; output rose at the fastest pace since April, contrasting with the official PMI at 49.3.
RatingDog and S&P Global said on 2 November that China's General Manufacturing PMI was 52.0 in October, edged down 0.1 point from September's 52.1 and above the 51.6 Reuters-poll forecast, marking an 11th straight month above the 50 threshold and the longest expansion streak since mid-2021. Gelonghui, citing the survey, said output expanded for an 11th month at the fastest pace since April, with growth across all three monitored sub-sectors for a third month and investment goods leading; total new orders rose for a 17th month at a pace broadly matching September; new export orders rose for a fourth month but slowed to a three-month low. Output charges fell for a second time in three months and export charges declined for the first time in nearly a year, while input prices rose for a 16th month at a softer pace. Hiring was only marginal and backlogs rose for a ninth month; purchasing grew at the strongest pace since February, and business confidence slipped to a nine-month low. Reuters noted the reading contrasted with Saturday's official manufacturing PMI, which unexpectedly fell to 49.3 and showed the fastest factory contraction in three months. Trading Economics also recorded the October figure at 52.0 for an 11th month of expansion.
Read full issue →