Workers look at machines moving newly made raw bricks at a
factory in Huaibei, Anhui province July 31, 2014.
Credit: Reuters/China Daily/Files
(
Reuters) -
China's vast factory sector grew a shade faster in October as firms saw
more
foreign and domestic orders, a private survey showed on Thursday,
though the modest expansion likely won't dispel concerns about the
cooling Chinese economy.
The flash HSBC/Markit
manufacturing purchasing managers' index (PMI) edged up to a three-month
high of 50.4 from a final reading of 50.2 in September, and just a
hair's breadth from the 50.3 reading forecast by analysts.
Underscoring
the pressures facing China's economy, growth in new orders at home and
abroad slowed in October and producer prices fell, pushing factory
inflation to a seven-month low.
The
level of output in factories also fell to a five-month low of 50.7,
just above the 50-point level that separates growth from contraction on a
monthly basis.
The PMI
report followed data earlier this week that showed the world's
second-largest economy grew at its slowest rate since the global
financial crisis in the September quarter, adding to worries that it was
weighing on global growth.
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