The Chinese manufacturing industry’s purchasing manager index (PMI) has seen a 0.9 per cent decrease in October, indicating a shrinking market activity in the country.
China’s PMI currently stands at 49.2 per cent for the current month, which is below the threshold.
The PMI for large enterprises was at 50.1 per cent, marking a 1-point decrease from the previous month, while the PMI of medium-sized and small enterprises stood at 48.9 and 48.2 per cent, respectively.
Five sub-indexes that constitute China’s manufacturing PMI were all lower than the threshold, with the production index standing at 49.6 per cent, a decrease of 1.9 per cent points from the previous month.
This indicates that manufacturing production activities have fallen, according to a statement from the National Bureau of Statistics of China.
The new order index also saw a decrease of 1.7 per cent from the previous month, reporting a rating of 48.1 per cent, indicating that the market demand of the manufacturing industry continued to decline.
The major raw materials inventory was also in a slight decline, with the index showing a 0.1 per cent increase to 47.7 per cent.
The employment index was at 48.3 per cent, a 0.7 per cent slip that shows a decline in the employment outlook of manufacturing enterprises.
Index for supplier delivery time shrunk by 1.6 per cent to 47.1 per cent, indicating that the delivery time of raw materials suppliers in the manufacturing industry continued to slow down.
