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- October survey data signalled a further marginal improvement in manufacturing operating conditions across China - Markit
October survey data signalled a further marginal improvement in manufacturing operating conditions across China - Markit
While new orders rose at a slightly quicker pace, production increased at the softest rate for four months. At the same time, companies continued to shed staff amid reports of company-downsizing policies and efforts to raise efficiency. This in turn contributed to a further increase in outstanding business, which rose solidly. Strict environmental policies meanwhile contributed to a sharp rise in input costs and weighed on vendor performance. As a result, companies raised their factory gate prices at a solid pace.
The seasonally adjusted Purchasing Managers' Index (PMI) - a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy - was unchanged from September's reading of 51.0 in October to signal a further marginal improvement in the health of the sector. Operating conditions have now strengthened in each of the past five months.
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