S&P Global PMI: China’s manufacturing sector rebounds in Oct.

China’s manufacturing sector showed signs of recovery in October 2024, with the Purchasing Managers’ Index (PMI) rising to 50.3, indicating an improvement in operating conditions after a brief downturn in September.

New orders accelerated faster in four months, driven by stronger underlying demand and proactive business development efforts. This surge in new orders led to a significant uptick in manufacturing production, with firms expressing increased confidence in future output.

However, challenges persist within the sector. Manufacturers remained cautious about hiring, resulting in a faster decline in employment levels compared to previous months. Input prices experienced a slight increase, primarily due to higher costs for metals and energy

Attribution: S&P Global report

Subediting: M. S. Salama