FXStreet (Bali) – Caixin China PMI came at 48.3 in October vs 47.5 expected and 47.2 last, with the report noting that while operating conditions have now worsened in each of the past eight months, the latest deterioration was the weakest since June.
Commenting on the China General Manufacturing PMI™ data, Dr. He Fan, Chief Economist at Caixin Insight Group said: “The Caixin China General Manufacturing PMI for October is 48.3, up 1.1 points from the reading for September. The slight upswing shows the manufacturing industry’s overall weakening has slowed down, indicating that previous stimulating measures have begun to take effect. Weak aggregate demand remained the biggest obstacle to economic growth, and the risk of deflation resulting from the continued fall in the prices of bulk commodities needs attention.”
(Market News Provided by FXstreet)