Caixin/Markit releases China manufacturing PMI for October 2020


Workers work at a vehicle chair manufacture factory in Lintong District of Xi’an, northwest China’s Shaanxi Province.

Liu Xiao | Xinhua | Getty Images

China’s factory activity expanded for the sixth straight month in October, a private survey showed on Monday.

The Caixin/Markit Purchasing Managers’ Index for Chinese manufacturing came in at 53.6 for October, better than the 53.0 forecast by analysts in a Reuters poll.

PMI readings above 50 indicate expansion, while those below that signal contraction. PMI readings are sequential and indicate month-on-month expansion or contraction.

China’s vast manufacturing industry has been recovering as the country’s coronavirus outbreak appears largely under control.

Over the weekend, China said its official manufacturing PMI for October was 51.4 — the eighth consecutive month of expansion. Analysts polled by Reuters had expected a 51.3 reading.

The official PMI survey typically polls a large proportion of big businesses and state-owned companies. In comparison, the private Caixin/Markit survey features a bigger mix of small- and medium-sized firms.

This is breaking news. Please check back for updates.



Source link

Discover

Sponsor

spot_imgspot_img

Latest

UK changes policy so it can use nukes in response to emerging tech

Royal Navy security personnel stand guard on Trident submarine HMS Vigilant in Scotland.Jeff J Mitchell | Getty ImagesLONDON — The U.K. has changed...

Wendy’s, fuboTV, Vizio, Lemonade & more

Take a look at some of the biggest movers in the premarket:Amazon.com (AMZN) – A European Union court ruled in Amazon's favor in...

Virgin Galactic shares pop as company plans to redo spaceflight test as early as Feb. 13

SpaceShipTwo "Unity" on the runway after an aborted spaceflight test on Dec. 12, 2020.Virgin GalacticVirgin Galactic is preparing for its next spaceflight attempt,...

UPS, Harley-Davidson, Cirrus Logic & more

Take a look at some of the biggest movers in the premarket:United Parcel Service (UPS) – UPS reported quarterly earnings of $2.66 per...