Workers are seen at a production line manufacturing solar photovoltaic components at a factory in Huzhou, Zhejiang province, China February 12, 2019.
Lin Yunlong | Zhejiang Daily | Reuters
China on Thursday reported that factory activity shrank for the sixth straight month in October, with the official Purchasing Managers' Index for manufacturing coming in at 49.3 in October.
In September, the official manufacturing PMI was 49.8, according to the country's statistics bureau.
PMI readings above 50 indicate expansion, while those below that level signal contraction.
The PMI is a survey of how businesses view the operating environment. Such data offer a first glimpse into what's happening in an economy, as they are usually among the first major economic indicators released each month.
PMI data on China is closely watched by global investors for signs of trouble amid a domestic economic slowdown and the ongoing U.S.-China trade dispute.
No comments:
Post a Comment