China private manufacturing PMI holds at 52.0 as official gauge falls to 49.3
China's private manufacturing PMI held at 52.0 in October for an 11th month of expansion, while the official NBS gauge fell to 49.3.
China's private manufacturing PMI held at 52.0 in October, compared with 52.1 in September and above expectations of 51.6, marking the 11th straight month of expansion.
The index is published by RatingDog in partnership with S&P Global and covers private factories, while the official gauge from the National Bureau of Statistics showed contraction at 49.3.
The data showed that growth in export orders slowed to a three-month low, casting a shadow over a sector that relies heavily on external demand.
The gap between the two indices reflects differences in sample and methodology, with the private gauge focused on small and medium-sized companies while the official index includes large and state-owned factories.
What do these terms mean?
Purchasing Managers' Index (PMI): a monthly index measuring factory activity, with a reading above 50 indicating expansion and below 50 indicating contraction.
Private manufacturing: activity at factories owned by the private sector rather than the state.
National Bureau of Statistics: the Chinese government agency responsible for publishing official economic data.
Export orders: orders manufacturers receive from buyers abroad, seen as a gauge of external demand strength.
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