Official PMI came in at 49.8 for October,while new export orders were also down for the 13th month in succession
A week after China said its 7% growth target was not set in stone, there was more depraved economic news, and this time from the country’s manufacturing sector.
The latest official purchasing managers’ index came in at 49.8 for October,the same level as September but lower than the expected level of 50. Anything below 50 indicates a contraction, and this is the third month in a row this has happened.
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Source: theguardian.com