China’s manufacturing activity saw an increase in October, official data showed Thursday.
The purchasing managers’ index (PMI) rose to 50.2 percent in October from 49.8 percent in September, just above the 50-percent figure that demarcates expansion from contraction, according to data released by the China Federation of Logistics and Purchasing (CFLP).
Swinging above the boom-bust line, the October index indicated that the economy’s downward movement may be reversing, according to experts.
Readings for sub-indices have also indicated expansion. The sub-index for new orders climbed 0.6 percentage points from September to 50.4 percent last month. The output sub-index for October stood at 52.1 percent, up 0.8 percentage points from the previous month.
The PMI rebounded to 49.8 percent in September, ending four straight months of decline.