Activity in the large Chinese industry increased in October, with the rate of growth tapping the highest level in more than two years. This is according to figures from research agencies Markit and Caixin.
The purchasing managers’ index, which reflects the activity, reached a level of 51.7 for October compared to 51.4 a month earlier. That is the highest point since February 2017. A position of 50 or more indicates growth, including shrinkage. Economists generally calculated at a level of 51.
It is the third month in a row that the index indicates growth. According to the researchers, Chinese manufacturers received more new export orders and production increased, despite trade tensions between China and the United States.
A comparable indicator of the Chinese government for industry again shrank on Thursday before October. That position was 49.3. The government figures focus more on the large Chinese state-owned companies, while Caixin and Markit focus more on smaller private companies focused on exports.
Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.
