China October official factory PMI falls to 50.2, misses expectations By Reuters

© Reuters. Labourer cuts steel bars at a railway bridge construction site in Lianyungang

© Reuters. Labourer cuts steel bars at a railway bridge construction site in Lianyungang


BEIJING (Reuters) – Growth in China’s manufacturing sector cooled for the second straight month in October, an official survey showed on Wednesday, suggesting a further loss of momentum in the world’s second-biggest economy as it faces rising headwinds from a Sino-U.S. trade row.

The official Purchasing Managers’ Index (PMI) fell to 50.2 in October from 50.8 in September, only slightly above the 50-point mark that separates growth from contraction for the 27th straight month.

Analysts surveyed by Reuters had forecast the reading would ease slightly to 50.6.

China’s economic growth cooled to its weakest pace since the global financial crisis in the third quarter. Regulators have been trying to ward off a sharper slowdown by stepping up policy support and softening their stance on a de-risking campaign, as the trade war with the United States begins to bite.

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