Chine PMI manufacturier

The Caixin China General Manufacturing PMI rose to 50.3 in October 2024 from 49.3 in the prior month, beating market forecasts of 49.7 while marking a shift to an expansion in factory activity after a series of stimulus measures from Beijing in late September. Output grew at the fastest pace in four months, driven by a renewed rise in new orders and increased buying levels. However, export orders continued to fall, albeit at a slower rate. Employment shrank the most in almost 1-1/2 years, with unfinished work growing due to a reduction in workforce capacity. On prices, input cost rose after falling in the previous two months, reflecting rising material costs. Consequently, selling prices increased for the first time since June as firms passed on the higher input costs. Despite this, export charges continued to fall as exporters faced heightened competition. Meantime, freight costs fell for some exports but lead times lengthened again. Finally, confidence notched a five-month peak.