China's Key PMIs Fell Below Threshold in October, Indicating Economic Contraction, Analysts Say
Experts said it’s now harder for the Chinese regime to cover up the economic decline, as PMI in multiple sectors fell below threshold.
Latest economic data from China indicates the broader economy is contracting, with Purchasing Managers’ Index (PMI) in most sectors falling below the 50-point threshold in October. Manufacturing PMI dropped to 49.3, construction activity index to 48.0, and the non-manufacturing PMI fell to 49.7. A reading below 50 signifies economic contraction.
- China’s PMI in almost all sectors fell below the 50-point threshold in October.
- Manufacturing PMI decreased to 49.3.
- Construction industry activity index fell to 48.0.
- Non-manufacturing PMI dropped to 49.7.
- A PMI below 50 indicates economic contraction, while above 50 suggests expansion.
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