2023-11-01 01:33:45 ET
-
The Caixin China General Manufacturing PMI fell to 49.5 in October 2023 from 50.6 in September, missing market forecasts of 50.8, marking the first contraction in factory activity since July, amid a renewed fall in output as economic recovery remained fragile.
-
New export orders for Chinese manufactured goods have shrunk for four consecutive months amid a relatively sluggish global economic climate.
-
Meantime, new order growth slowed for two months in a row.
-
"Overall, manufacturers were not in high spirits in October," said Wang Zhe, an economist at Caixin Insight Group.
-
"The economy has showed signs of bottoming out, but the foundation of recovery is not solid. Demand is weak, many internal and external uncertainties remain, and expectations are still relatively weak."
-
ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).
-
Currency: ( CNY:USD )
-
China manufacturing unexpectedly shrinks, services miss forecast in October
-
China unveils fresh stimulus, but economic growth fears linger
-
China’s industrial profit growth drops at softer pace in first nine months amid policy support
-
China's central bank to bolster liquidity support; keeps policy rate unchanged
More on China economy:
For further details see:
China factory activity unexpectedly drops in October amid weak demand