China’s PMI October 2023

China's National Bureau of Statistics confirmed the data for October of the composite Purchasing Managers' Index (PMI), which includes both manufacturing and services activity, at 50.7 down from the 52 recorded in the previous month but above the 50-point threshold that separates growth from contraction.

The official PMI index for China’s manufacturing sector come in at 49.5 in October down from 50.2 in September. As for non-manufacturing sector, which has been supporting the economic recovery so far, varied in October at 50.6 compared with 51.7 in the previous month.

Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.