China’s factory activity picked up speed in October, the latest sign of sustained positive momentum in the world’s second-largest economy.
China’s official purchasing managers’ index topped analyst expectations, increasing to 51.4 in October from 51.1 in September, according to the National Bureau of Statistics. Any number over 50 indicates an acceleration in the sector.
A separate PMI measure released Friday by global bank HSBC came in at 50.9, a seven-month high driven by strong output growth. The official government gauge is heavily weighted toward large enterprises, while the HSBC survey taps a smaller sample size and places greater emphasis on smaller firms.