The Caixin/S&P Global manufacturing PMI rose to 50.3 in October from 49.3 the previous month, beating analysts' forecasts in a
Reuters poll of 49.7.
The reading echoes an
official survey on Thursday, which showed manufacturing activity expanded for the first time since April, a stabilising sign and helped by a slew of stimulus measures announced in late September as Beijing sought to pull economic growth back towards this year's target of roughly 5%.
On Thursday, China's National Bureau of Statistics (NBS) said that the the purchasing managers' index (PMI) for China's manufacturing industry, which gauges activity in the sector, rose to 50.1 in October, marking a return to expansion territory from 49.8 in September after five months of contraction, aided by the introduction and implementation of incremental pro-growth policies to bolster the economy and the gradual impact of existing policies as economic sentiment continued to improve, according to
Global Times. The manufacturing PMI has now rebounded for two consecutive months, while key indicators showed steady improvement, which have bolstered market expectations, the Chinese newspaper noted.
