China PMI October 2022


China: Manufacturing and non-Manufacturing PMIs falls in October

October 31, 2022

The National Bureau of Statistics' Manufacturing Purchasing Managers' Index (PMI) fell to 49.2 in October from September's 50.1. As a result, the index dropped below the 50.0 no-change mark, signaling a deterioration in manufacturing sector operating conditions from the previous month.

The headline print reflected a deterioration in output and faster decreases in new orders and employment. Meanwhile, the National Bureau of Statistics' non-Manufacturing PMI stood at 48.7 in October, down from September’s 50.6. A depressed services sector, amid persistent Covid-19 restrictions, was behind the reading. Looking at subsectors, new orders, employment and foreign orders contracted at sharper rates in October.

Author:, Economist

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China PMI Chart

China PMI October 2022

Note: Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 indicate a contraction.
Source: National Bureau of Statistics of China (NBS) and the China Federation of Logistics and Purchasing (CFLP).

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