Factories in China received a significant increase in orders resulting in an upswing in manufacturing during a traditionally slower part of the year suggests China’s economy is still on the upswing. Growth as measured by the Purchasing Manager’s Index (PMI) climbed to 54.7 in the month from 53.8 in September.
“The fact that the PMI went up despite this seasonal bias suggests real activity growth was likely to have been exceedingly strong in October,” Goldman Sachs economists Yu Song and Helen Qiao said in a note to clients.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012