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11/1/2019, 2:46 AM (Source: TeleTrader)
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China's manufacturing activity rises in October

The growth of the manufacturing sector in China accelerated in October, with the Caixin China Manufacturing PMI rising from 51.4 in September to 51.7, IHS Markit said in a release on Friday. This marks the fastest pace of growth since February 2017, the release noted.

New orders increased at the fastest rate since January 2013, while output growth also accelerated. Confidence among businesses that output will improve further in the next 12 months was at highest since April, the survey showed. Meanwhile, rising client demand pushed purchasing activity higher at the fastest pace since February 2018.

"China’s manufacturing economy continued to recover at a relatively quick pace in October. New orders placed with companies improved substantially, and new export orders rose at the fastest pace since the Sino-US trade war broke out. However, business confidence has been weak. Deliveries of inputs were further delayed. Inventory activities were subdued. The employment sector continued to contract. If the improvement in demand, including that generated by infrastructure projects and exports, is able to continue, the manufacturing sector can gradually build a foundation for stability," commented Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group.

Breaking the News / NI