Ekonomické zprávy
01.11.2021

China manufacturing sector expands marginally in October

RTTNews reports that survey results from Caixin/IHS Markit showed that China's manufacturing activity grew marginally in October as power shortages and rising costs weighed on production.

The Manufacturing PMI rose to 50.6 in October from 50.0 in September. The rate of expansion was the strongest recorded since June.

Total new orders increased at the fastest pace in four months driven by domestic demand. Meanwhile, foreign demand dropped for the third straight month.

Despite rising amounts of overall new work, manufacturers recorded a third successive monthly decline in production.

Lower production contributed to a further drop in manufacturing sector employment in October. Nonetheless, the rate of job shedding eased to a marginal pace.

Supply chain delays became more widespread in October, with average lead times for inputs increasing at the fastest rate since March 2020.

On the price front, the survey showed that input price inflation was the steepest since December 2016. Consequently, output charges also rose at a notably quicker rate during October.

Chinese manufacturers were generally optimistic that output will rise over the next twelve months, though the degree of positive sentiment eased slightly since September.

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