Caixin China manufacturing PMI flat in October

Updated 2017-11-01 13:31:58 chinadaily.com.cn

China's manufacturing activities continued to expand at a stable pace, according to the Caixin China Purchasing Managers' Index for manufacturing sectors, released on Wednesday.

The reading was 51 in October, unchanged from September. It has been above 50 for five consecutive months.

A reading above 50 indicates expansion while one below that indicates contraction.

It shows that China's manufacturing industries expanded at a stable pace in October, but the country's strict production reduction measures aimed at environmental protection and low corporate stock levels may affect production in the coming months, said Zhong Zhengsheng, chief economist of Caixin Insight Group, which compiled the index.

China's industrial output growth may slow in October and investment growth may also be affected by the property market restrictive measures, Zhong said.

But he said the world's second-largest economy has been resilient and its GDP growth in the fourth quarter will not drop significantly compared with previous quarters.

China's GDP growth was 6.8 percent year-on-year in the third quarter and 6.9 percent in the first three quarters. Analysts generally forecast that it will comfortably meet its growth target of around 6.5 percent for this year.

The official manufacturing PMI, released by the National Bureau of Statistics, fell to 51.6 in October after two months of expansion, according to an NBS statement on Tuesday. It was 52.4 in September, which marked a five-year high.

The Caixin index mainly monitors small- and middle-sized enterprises while the NBS mainly tracks major enterprises.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58July 17 2018 08:06:39

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16July 17 2018 08:06:39

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18July 17 2018 08:06:39

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords