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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Oct. 31 (Xinhua) — China's manufacturing purchasing managers' index (PMI) stood at 49.0 in October, down 0.8 percentage points from September, data from the National Bureau of Statistics showed Friday.
Let us remember that a PMI index above 50 indicates expansion of the manufacturing sector, while one below 50 indicates contraction.
"In October, manufacturing activity slowed compared to the previous month, driven by both the premature release of demand ahead of the National Day holiday and the worsening international situation," said the agency's chief statistician, Ho Lihui.
From October 1st to 8th, China celebrated the National Day of the People's Republic of China, an eight-day holiday that coincided with the Mid-Autumn Festival (Zhongqiujie or Moon Festival).
The production sub-index fell by 2.2 percentage points month-on-month to 49.7, indicating a slowdown in industrial production.
The new orders sub-index was 48.8, which is 0.9 percentage points lower than the figure recorded last month.
The supplier delivery lead time sub-index fell 0.8 percentage points to 50, indicating that lead times for raw material suppliers in the manufacturing sector were little changed from the previous month. -0-
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