China’s manufacturing sector has signaled a robust rebound, with the Purchasing Managers’ Index (PMI) rising back into expansion territory in October. According to the National Bureau of Statistics (NBS), the PMI climbed to 50.1, up 0.3 percentage points from September, marking a second consecutive month of improvement.
The PMI is a key indicator of economic health in the manufacturing and service sectors, with readings above 50 indicating expansion and below 50 signifying contraction. The latest figures suggest a strengthening momentum in China’s manufacturing activities, a positive sign for the global economy given China’s significant role in global supply chains.
Notably, 12 out of the 21 sub-sectors surveyed reported PMI figures above the 50-point threshold, indicating broad-based growth across the industry. This widespread improvement highlights the sector’s resilience and its contribution to enhancing the overall economic vitality of the Chinese mainland.
Zhao Qinghe, a senior statistician at the NBS Service Industry Survey Center, attributed the uptick to accelerated policy implementation and the introduction of new growth-stimulating measures. “The steady recovery of market demand has been a driving force behind the manufacturing sector’s expansion,” Zhao noted.
Manufacturers reported increased production activities, with the production index rising by 0.8 percentage points to 52.0, reflecting faster growth in output. Additionally, concerns over insufficient market demand have eased, with nearly a 3 percentage point drop in the proportion of firms citing this issue.
“The effects of macroeconomic policy adjustments are progressively emerging,” Zhao added. “We are seeing increased market vitality and a clearer synergy between supply and demand, which is gradually strengthening the country’s economic growth momentum.”
The positive trends in China’s manufacturing sector are encouraging for global investors, market analysts, and businesses with ties to Asian markets. The rebound may signal new opportunities for entrepreneurs and investors seeking to engage with China’s dynamic economy.
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China's manufacturing PMI re-enters expansion territory in October
cgtn.com
