Bearings Industrial News >>Chinese Manufacturing Activity Slows Sharply in Oct
Chinese Manufacturing Activity Slows Sharply in Oct
China¡¯s manufacturing activity slowed sharply last month amid gloomy global economic outlook, an industry organization said Monday (Nov 3).
The China Federation of Logistics and Purchasing said its purchasing managers¡¯ index, a broad measure of new orders, exports and other factors,
fell to October¡¯s 44.6 from September¡¯s 51.2. It was the lowest level since the survey began in 2005.
A number above 50 indicates activity is growing, while a number below 50 shows it is contracting.
The federation explained that October¡¯s slowdown was driven by a downturn in export orders and demand for goods such as steel and machinery.
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