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- China Composite PMI indicated the fastest expansion in business activity since early 2013
China Composite PMI indicated the fastest expansion in business activity since early 2013
Caixin China Composite PMI data (which covers both manufacturing and services) indicated the fastest expansion in Chinese business activity since early 2013 during October.
This was shown by the Composite Output Index rising from 51.4 in September to 52.9 at the start of the fourth quarter.
October survey data indicated that activity growth was predominantly supported by stronger growth in manufacturing output, though services activity growth also picked up from the previous month. Furthermore, goods producers registered the quickest expansion in production since early 2011. Business activity at services companies meanwhile rose at a moderate pace that was the fastest for four months. This was illustrated by the seasonally adjusted Caixin China General Services Business Activity Index rising from 52.0 to 52.4 in October.
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