China's manufacturing sector is showing signs of a robust recovery, with the Purchasing Managers' Index (PMI) rising to 50.1 in October. This marks the second consecutive month of improvement, indicating that the sector is expanding.
The PMI, a crucial indicator of economic health for both manufacturing and service industries, surpassed the 50-point mark, signaling growth. Out of 21 sub-sectors, 12 reported PMI figures above 50, demonstrating widespread expansion and enhancing the overall economic resilience of the country.
According to Zhao Qinghe, a senior statistician at the National Bureau of Statistics (NBS), the increase in PMI was driven by the accelerated implementation of existing policies and the introduction of new growth-stimulating measures. These efforts have led to a steady recovery in market demand, further bolstering the manufacturing sector.
Manufacturers have reported heightened production activities, with the production index climbing by 0.8 percentage points to 52.0. This reflects a faster expansion in manufacturing output as companies are less concerned about insufficient market demand—a worry that has decreased by nearly three percentage points.
Zhao added that the ongoing effects of macroeconomic policy adjustments are contributing to increased market vitality and a stronger synergy between supply and demand. These factors are gradually strengthening China's economic growth momentum, painting a positive outlook for the future.
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