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China manufacturing levels increased to 53.6pc in October
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Posttime:2020-11-06
China's manufacturing industry rose to 53.6 per cent in October from 53 per cent the previous month, according to the Purchasing Managers Index, reports Caixin.
Any number above 50 indicates an expansion in activity, while a reading below signals a contraction. The reading was the highest since January 2011.
"Recovery was the word in the current macroeconomy, with the domestic epidemic under control," said Caixin Insight Group economist Wang Zhe.
Meanwhile, many factories across China have resumed operations as the Covid pandemic began to stabilise in the country. The pace of production has increased, while overseas demand has improved.
source:Schednet
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