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11/2/2020, 2:51 AM (Source: TeleTrader)
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China manufacturing PMI highest since Jan. 2011

China's manufacturing sector expanded further in October, with the Purchasing Managers’ Index (PMI) up to 53.6 in October from 53.0 in September, IHS Markit announced on Monday.

There was a sharp increase in new work in October, along with stocks of purchased items, which rose at the quickest rate since July 2016. Business confidence also improved, reaching its highest point since August 2014.

"As the economic indicators for consumption, investment and industrial output for September were generally better than expected, it is highly likely that the economic recovery will continue for the next several months. But there are still many uncertainties outside of China, so policymakers need to be cautious about normalizing postcoronavirus monetary and fiscal policies," the report concluded.

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