A
gauge of China’s manufacturing rose last month as a global recovery
helps the nation’s factories, underpinning an economy weighed by a
property slump.
The
Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics
for October was at 50.4, unchanged from the preliminary figure and up
from September’s final reading of 50.2. Numbers above 50 indicate
expansion.
Demand
from the U.S. is supporting manufacturing in China. Even still, the
world’s second-largest economy is headed for the slowest full-year
expansion since 1990, based on the median estimate of economists
surveyed by Bloomberg.
Average
input costs and prices charged both declined at the fastest rates since
March, the report showed, suggesting factory-gate deflation is
deepening. Higher new-export business was attributed to stronger demand
from customers across a number of key export markets, it said.
Source: Bloomberg
