China’s monthly index of manufacturing activity climbed to 51.4 per cent in October, its highest mark for 18 months, boosting the world’s second-largest economy before a key meeting to approve reforms.
The purchasing managers’ index rose from 51.1 per cent in September and 51 per cent in August, statistics from the China Federation of Logistics and Purchasing showed.
The 50 per cent mark denotes the divide between expansion and contraction of purchasing managers’ orders.
The ruling Communist Party is expected to announce a new round of measures to re-balance the economy and stabilise growth on November 12 following an annual meeting of its Central Committee.
China’s annual economic growth fell to 7.8 per cent last year, the slowest since 1999, and it is expected to be slightly below that figure this year.
The party set a broad target of 7.5 per cent for economic growth this year.