World

Chinese manufacturing expands in October but at slower pace

PTI Beijing | Updated on October 31, 2020 Published on October 31, 2020

File photo   -  REUTERS

China’s manufacturing activity expanded in October for the eighth straight month, though at a slightly slower rate than in September, the National Bureau of Statistics said Saturday.

The Purchasing Managers Index stood at 51.4, down from 51.5 the previous month, the agency announced. A reading above 50 in the monthly survey of companies indicates expansion.

The economy has gradually recovered since the index plunged to 35.7 in February during the peak of the coronavirus outbreak in China. The world’s second largest economy grew 4.9 per cent in the three months ending September 30, the second straight quarter of growth.

Manufacturing employment remained in negative territory with a reading of 49.3, a decline from 49.6 in September. China has struggled to get people back to work even as the pandemic has largely receded at home.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 31, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.