Chinese Factory Activity Unexpectedly Expands on Stimulus Push [Yahoo! Finance Canada]
ING Group, N.V. (ING)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The official manufacturing purchasing managers' index rose to 50.1 in October from 49.8 last month, the National Bureau of Statistics said Thursday. That's above the 50 mark separating expansion and contraction from the previous month, and compares with a median forecast of 49.9 by economists surveyed by Bloomberg News. The non-manufacturing measure of activity in construction and services climbed to 50.2 from 50 last month, the statistics office said. That compares with a forecast of 50.3. The PMI survey provided the first official economic indicator for the month after China introduced its boldest stimulus package since the pandemic. “China's economic activity continued to rebound and improve in October, as a package of new policy measures were rolled out and existing policies began to make an impact gradually,” said Zhao Qinghe, senior statistician at the NBS, in a statement. The offshore yuan held a slight loss of 0.1% in morning trading. China'
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