PMI: China’s Economy is Still Holding Up

China’s manufacturing activity grew at its fastest pace in 18 months in October, official data on Friday showed, a positive sign from the world’s second biggest economy after a recent run of disappointing numbers.

The official Purchasing Managers’ Index (PMI) rose to 51.4 in October from 51.1 in September and was above analyst expectations for a reading of 51.2. It remained comfortably above the 50-mark that divides expansion from contraction.

HSBC meanwhile said that the final reading of its China October PMI was 50.9, unchanged from a flash estimate released last week. On this measure, the Chinese manufacturing sector grew at its fastest pace in seven months, lifted by new orders.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.