<img src='https://news.cgtn.com/news/2024-10-31/news-1y8ISl2PId2/img/4c98b67336644ff0b5ade432cfbd5f7d/4c98b67336644ff0b5ade432cfbd5f7d.jpeg' alt='An employee works on a machine production line at a factory in Beijing, October 15, 2021. /CFP
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China’s manufacturing sector has shown signs of robust recovery as the purchasing managers’ index (PMI) re-entered the expansionary territory in October.
China’s manufacturing PMI rose to 50.1 in October, up 0.3 percentage point from the previous month, marking the second consecutive month of improvement, according to data released by the National Bureau of Statistics (NBS).
The PMI, a key gauge of economic health for manufacturing and service sectors, uses a reading above 50 to indicate expansion in the sector and one below that to denote contraction.
The improvement was broad-based across the manufacturing industry, with 12 out of the 21 sub-sectors reporting PMI figures above the 50 threshold points, indicating that the majority of the sectors are experiencing growth, which has enhanced overall economic resilience.
The increase in PMI was supported by the accelerated implementation of existing policies and the introduction of new growth-stimulating measures, which have led to a steady recovery of market demand, according to Zhao Qinghe, a senior statistician at the Service Industry Survey Center with the NBS.
Manufacturers reported increased production activities, with the production index rising by 0.8 percentage point to 52.0, reflecting a faster expansion in manufacturing output. The improvement has been made as companies report decreased concerns over insufficient market demand, with a nearly 3 percentage points drop in the proportion of firms citing this as a concern.
Overall, the effects of macroeconomic policy adjustments continue to emerge, contributing to increased market vitality and a clearer synergy between supply and demand, which is gradually strengthening the country’s economic growth momentum, said Zhao.
