Business

A private survey shows China’s manufacturing activity expanded in October

A woman works in a Macintosh boot factory in Lin’an, located in the east China province of Zhejiang.

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A private survey showed factory activity in China expanded in October with the Caixin/Markit PMI coming in at 51.7.

Analysts polled by Reuters had expected the PMI number to come in at 51.0 from 51.4 for September.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

Official manufacturing data released on Thursday showed factory activity in China contracted for the sixth month in a row.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator features a bigger mix of small- and medium-sized companies.

The PMI is a survey of how businesses view the operating environment. Such data offer a first glimpse into what’s happening in an economy, as they are usually among the first major economic indicators released each month.

China’s PMI data is closely watched by global investors for signs of trouble amid a domestic economic slowdown and the ongoing U.S.-China trade dispute.

This is breaking news. Please check back for updates.

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