China's Manufacturing Activity Expands At A Faster Pace In October

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Manufacturing activity in China expanded at the quickest pace in 18 months in October, a survey by the Federation of Logistics and Purchasing showed Sunday, reports said. Moreover, this was the eighth consecutive month the index was above the no-change level of 50.

The purchasing managers' index rose to 55.2 in October from 54.3 in the previous month. A reading above 50 indicates expansion, while a reading below 50 signals a contraction.

The production index moved up to 59.3 from 58, while the new export orders index increased to 54.5 from 53.3. Also, the import index rose to 52.8 from 50.7. However, the employment index showed a fall.

The country recorded a growth of 8.9% in the third quarter, faster than a 7.9% rise seen in the previous quarter.

(Market News Provided by RTTNews)