China’s Factory Activity Falls Short of Expectations in October

Factory activity in China fell for the first time since May, according to figures released by the National Bureau of Statistics on Monday, as the country’s harsh Covid-19 restrictions prevented people from traveling and gathering during the Golden Week holiday.

The official manufacturing Purchasing Managers’ Index came in at 49.2, falling short of the 50-point threshold that distinguishes monthly growth from contraction.

The PMI index was at 50.1 in September.

Chinese non-manufacturing PMI dropped to 48.7 from September’s 50.6 reading.