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China's National Bureau of Statistics and the Federation of Logistics and Purchasing (CFLP) announced Wednesday that the official Manufacturing Purchasing managers'index (PMI), the leading macroeconomic indicator, dropped to 50.2 in October, lower than the median forecast of 50.6 in the Reuters survey and 50.8 in September. This is the official manufacturing PMI expansion for 27 consecutive months.
From the sub-index point of view, the production index and new order index are higher than the critical point, raw material inventory index, employee index and supplier distribution time index are lower than the critical point.
In October, manufacturing PMI reached its lowest level since July 2016.
The National Bureau of statistics also announced that the composite PMI output index in October was 53.1, down from 54.1 last month.
The following table is a historical survey of official Manufacturing Purchasing Managers Index (PMI) in the past year (%):
18 years, October, September, August, July, June, May, 17 years.
50.2 50.8 51.3 51.2 51.5 51.9 51.4 51.5 50.3 51.3 51.6 51.6 51.6
Manufacturing PMI is a composite index weighted by five major diffusion indices in accordance with international practice. Usually, the PMI index is above 50, reflecting the overall economic expansion; less than 50, reflecting the economic recession.


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