Caixin’s China Manufacturing PMI Falls for a Third Month in October

The private survey showed on Tuesday that China’s October factory activity contracted for the third month in a row.

The Caixin manufacturing Purchasing Managers’ Index for October came in at 49.2, compared with expectations for a print of 49. In September, the manufacturing PMI was at 48.1, falling short of the 50-point threshold that distinguishes monthly growth from contraction.

Official data from the National Bureau of Statistics came in at 49.2 on Monday, missing expectations for a print of 50, due to the country’s harsh Covid-19 restrictions that prevented people from traveling and gathering during the Golden Week holiday.