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11/1/2021, 3:03 AM (Source: TeleTrader)
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China's factory activity grows in October

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) increased by 0.6 percentage points in October compared to the previous month to climb to 50.6, surpassing market expectations, according to the latest report released by the IHS Markit.

Manufacturers noted an improvement in demand in October, but production was still hampered by limited power supplies and rising material costs. Despite this, the sector's rate of expansion was the strongest since June.

Dr. Wang Zhe, Senior Economist at Caixin Insight Group, commented on the report: "The manufacturing sector featured a combination of strong demand and weak supply last month. Output shrank for the third consecutive month, and at a faster clip than the previous month. Demand continued to recover with the subindex for total new orders rising further into expansionary territory."

Baha Breaking News (BBN) / OL