China’s National Bureau of Statistics published the country’s official manufacturing PMI report a bit earlier than expected.
The headline number climbed to 51.4 in October from 51.1 in September. Economists were looking for a reading of 51.2.
Any reading above 50 signals growth.
The output sub-index was particularly strong, rising to 54.4 from 52.9.
It’s worth noting, however, that seven of the 12 sub-indexes actually contracted.
Here’s a breakdown of the September report.
|Sept. 2013||Oct. 2013|
|New Export Orders||50.7||50.4|
|Backlogs of Work||46.2||45.5|
|Inventories of Finished Goods||47.4||45.6|
|Inventories of Raw Materials||48.5||48.6|
|Supplier Delivery Times||50.8||50.8|
|Business Activity Expectation||58.4||57.5|