China’s official Manufacturing Purchasing Managers’ Index (PMI) slipped into contraction in October, falling to 49.3 from 50.1 in the prior reading, according to the National Bureau of Statistics (NBS). The figure also undershot the market consensus of 50.0, suggesting weaker factory activity over the month.
Non-Manufacturing Indicators and Currency Reaction
The NBS Non-Manufacturing PMI also moved lower, easing to 49.7 in October from 50.2 in September, pointing to softer momentum in services and construction. In currency markets, the China-linked Australian dollar edged down after the release; AUD/USD was 0.06% lower on the day at 0.7028 at the time of reporting.
