China's manufacturing PMI rises to 50.1, first expansion since April

The official NBS Manufacturing PMI in China rose to 50.1 in October 2024, up from September's 49.8 and slightly exceeding market expectations of 50.

China's manufacturing PMI rises to 50.1, first expansion since April

This marks the first expansion in factory activity since April, with output increasing for the second consecutive month and reaching its highest level in six months at 52.0 (compared to 51.2 in September), supported by stimulus measures. New orders stabilized after five months of decline at 50.0 (up from 49.9), although foreign sales fell faster (47.3 versus 47.5). Additionally, purchasing levels contracted at the slowest rate in five months (49.3 compared to 47.6), and employment declined more gradually (48.4 versus 48.2). Delivery times lengthened more gently (49.6 versus 49.5).

Input prices rise first time in four months; business sentiment up

Regarding pricing, input prices rose for the first time in four months, increasing at the fastest rate since May (53.4 versus 45.1), while output prices experienced the smallest decline in five months (49.9 compared to 44.0). Finally, business sentiment improved, reaching a four-month high at 54.0 (up from 52.0).