CHINA'S OFFICIAL PMI BEATS EXPECTATIONS

china pmi
china pmi

Societe Generale

China's National Bureau of Statistics published the country's official manufacturing PMI report a bit earlier than expected.

The headline number climbed to 51.4 in October from 51.1 in September. Economists were looking for a reading of 51.2.

Any reading above 50 signals growth.

The output sub-index was particularly strong, rising to 54.4 from 52.9.

It's worth noting, however, that seven of the 12 sub-indexes actually contracted.

Here's a breakdown of the September report.

Sept. 2013

Oct. 2013

PMI

51.1

51.4

Output

52.9

54.4

New Orders

52.8

52.5

New Export Orders

50.7

50.4

Backlogs of Work

46.2

45.5

Inventories of Finished Goods

47.4

45.6

Purchases Quantity

52.5

52.7

Imports

50.4

50.0

Input Prices

54.5

53.3

Inventories of Raw Materials

48.5

48.6

Employment

49.1

49.2

Supplier Delivery Times

50.8

50.8

Business Activity Expectation

58.4

57.5



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