China factory output expands first time in 6 months - RTHK
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China factory output expands first time in 6 months

2024-10-31 HKT 12:30
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  • The manufacturing sector returned to the expansion zone for the first time since April. Photo: Xinhua
    The manufacturing sector returned to the expansion zone for the first time since April. Photo: Xinhua
China's manufacturing output returned to the expansion zone in October after five consecutive months of contraction, official data showed on Thursday, signalling positive news for the world's second largest economy.

In a statement, National Bureau of Statistics (NBS) said the purchasing managers' index (PMI) for China's manufacturing sector came in at 50.1 in October, up from 49.8 in September and surpassing the boom-or-bust line of 50 for the first time since May.

Commenting on the data, NBS statistician, Zhao Qinghe, said China's economic sentiment continued to improve in October as a new package of incremental policies were rolled out and existing policies also gradually took effect.

The October data also outperformed a forecast of 49.9 by analysts surveyed by Bloomberg.

A breakdown of the data showed that railway transport, water transport, air transport, postal services, capital market services and ecological conservation recorded an expansion in October, while those related to wholesale, accommodation, internet software and information technology services, property sector, and resident services logged contraction.

Beijing has in recent weeks unveiled a slew of measures to funnel cash into the economy, including several key rate cuts and looser restrictions on home-buying, and is targeting annual growth this year of around five percent. (Xinhua/Agencies)

China factory output expands first time in 6 months