China's manufacturing activity expands for first time in six months

Beijing: China's manufacturing activity expanded for the first time in six months in October 2024, underpinned by strong domestic demand, official survey data revealed on Thursday.

The official manufacturing Purchasing Managers' Index (PMI) rose to 50.1 in October 2024 from 49.8 in September, according to survey data from the National Bureau of Statistics. The score was expected to remain unchanged at 49.8.

A reading above 50 indicates expansion, while a score below 50.0 signals contraction.

The Caixin General manufacturing PMI survey data is due on 1 November 2024.

The non-manufacturing PMI, which tracks both the service and construction sectors, posted 50.2, up from 50 in the previous month but below a forecast of 50.4.

The overall composite PMI that combines services and manufacturing advanced to 50.8 from 50.4 in September.