BEIJING : China's manufacturing activity likely expanded for a second straight month in October, a Reuters poll showed on Monday, suggesting recent support measures are helping boost sentiment as the economy stabilises.The official purchasing managers' index (PMI) is expected to have held at 50.
FILE PHOTO: Employees work on the production line of American infant product and toy manufacturer Kids2 Inc. at a factory in Jiujiang, Jiangxi province, China June 22, 2021. Picture taken June 22, 2021. REUTERS/Gabriel Crossley/File PhotoBEIJING : China's manufacturing activity likely expanded for a second straight month in October, a Reuters poll showed on Monday, suggesting recent support measures are helping boost sentiment as the economy stabilises.
The highest projection was a reading of 50.5 by Capital Economics and the lowest 49.9 by Standard Chartered. An index reading above 50 indicates expansion in activity on a monthly basis while below that signals contraction. The world's second-largest economy grew faster than expected in the third quarter, while consumption and industrial activity in September also surprised on the upside.
Despite indicators suggesting the economy is stabilising, the government continues to wrestle with a domestic property crisis, high youth unemployment, depressed private sector confidence and a slowdown in global growth.
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