In October, the Caixin Manufacturing Purchasing Managers' Index (PMI) in China reached 50.3, compared to a previous expectation of 49.7, and a prior value of 49.3. Caixin indicated that the incremental growth in manufacturing has increased, and demand has shifted from a contraction state to a slight expansion. #BTC00929

In October, the manufacturing new orders index reached its highest level since July; however, unlike the overall recovery in demand, external demand has been in a contraction state for the third consecutive month.

The manufacturing employment index in October has remained in the contraction zone for two consecutive months, and has fallen to its lowest value since June 2023, with companies still maintaining a cautious attitude towards increasing employment. #中国10月财新制造业PMI