The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing announced today the China Purchasing Managers' Index for October. According to the data, the level of sentiment in the manufacturing industry has recovered, and the manufacturing purchasing managers' index has returned to the contraction range, but the new momentum continues to expand, and the supporting effect on the manufacturing industry is prominent. In October, China's manufacturing purchasing managers' index was 49.3%, down 0.8 percentage points from the previous month, falling below the boom and dry line. Judging from historical data, this period of the year is easily disrupted by seasonal factors. This round of decline is mainly due to the decline in overseas related orders after the centralized release last month, and the peak of consumption tending to flatten after the long holidays, compounded by the transition of the basic raw materials industry into a low season, which is a phased change. The manufacturing boom experienced a seasonal correction in October, and the characteristics of industry differentiation were quite obvious. New momentum industries such as equipment manufacturing and high-tech manufacturing continued to expand, hedging the downward pressure brought about by traditional industries. Looking at supply and demand, the overall demand in the manufacturing market pulled back in October. The new orders index was 49.4%, down 1.1 percentage points from the previous month; the new export orders index also declined to 48.7%. The production index was 49.8%, down 1.9 percentage points from the previous month. Overall production activity was stable. On the price side, the increase in the purchase price and ex-factory price of raw materials in the manufacturing industry has slowed. The purchase price index was 56.8%, down 4 percentage points from the previous month; the ex-factory price index was 51.7%, down 2.3 percentage points. Although the two indices have declined, they are still higher than the same period last year, and the overall price of industrial products is at a high level.

The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing announced today the China Purchasing Managers' Index for October. According to the data, the level of sentiment in the manufacturing industry has recovered, and the manufacturing purchasing managers' index has returned to the contraction range, but the new momentum continues to expand, and the supporting effect on the manufacturing industry is prominent. In October, China's manufacturing purchasing managers' index was 49.3%, down 0.8 percentage points from the previous month, falling below the boom and dry line. Judging from historical data, this period of the year is easily disrupted by seasonal factors. This round of decline is mainly due to the decline in overseas related orders after the centralized release last month, and the peak of consumption tending to flatten after the long holidays, compounded by the transition of the basic raw materials industry into a low season, which is a phased change. The manufacturing boom experienced a seasonal correction in October, and the characteristics of industry differentiation were quite obvious. New momentum industries such as equipment manufacturing and high-tech manufacturing continued to expand, hedging the downward pressure brought about by traditional industries. Looking at supply and demand, the overall demand in the manufacturing market pulled back in October. The new orders index was 49.4%, down 1.1 percentage points from the previous month; the new export orders index also declined to 48.7%. The production index was 49.8%, down 1.9 percentage points from the previous month. Overall production activity was stable. On the price side, the increase in the purchase price and ex-factory price of raw materials in the manufacturing industry has slowed. The purchase price index was 56.8%, down 4 percentage points from the previous month; the ex-factory price index was 51.7%, down 2.3 percentage points. Although the two indices have declined, they are still higher than the same period last year, and the overall price of industrial products is at a high level.