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China's manufacturing sector remained stable in October, official data showed Wednesday. The country's manufacturing purchasing managers' index (PMI) came in at 50.2 in October, narrowing from 50.8 in September, according to the National Bureau of Statistics (NBS). A reading above 50 indicates expansion, while a reading below reflects contraction. "The manufacturing sector, in general, continued to expand at a slower pace," said NBS senior statistician Zhao Qinghe. "The fundamental of the manufacturing sector remains stable." Zhao said the manufacturing supply and demand in October experienced fluctuations due to factors including the National Day holiday and a complicated external environment. Sub-index for production edged down from 53 in September to 52 in October, while the sub-index for new orders dipped from 52 in September to 50.8 in October. Wednesday's data also showed that China's non-manufacturing sector held steady in October, with the PMI for the sector standing at 53.9 in October, down from 54.9 in September. The service sector, which accounts for more than half of the country's GDP, maintained stable growth, with the sub-index measuring business activity in the industry standing at 52.1 in October, down from 53.4 in September. Rapid expansion was seen in industries including postal service, Internet software and telecommunications, where the readings were all above 59, the NBS said. |
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