Search

China expected to post slowing manufacturing growth in October

China is expected to report slower manufacturing growth in October as the country's trade war dispute with the U.S. continues.

Official manufacturing Purchasing Managers' Index (PMI) is expected to have slipped to 50.6, the lowest since February and down from 50.8 in September, according to analysts Reuters polled.

A reading above 50 indicates expansion, while a reading below that signals contraction.

The country will report official manufacturing Purchasing Managers' Index for October on Wednesday at 9 a.m. HK/SIN (9 p.m. ET Tuesday).

October is the first full month after the latest U.S. tariffs went into effect. Washington and Beijing slapped additional tariffs on each other's goods on Sept. 24.

Economic data from China is being closely watched amid a trade war between the two economic giants.

Already, China reported slower-than-expected growth of 6.5 percent in the third quarter of the year — its weakest pace since the first quarter of 2009.

Even before the escalation in trade tensions with the U.S. this year, Beijing was already trying to manage a slowdown in its economy after three decades of breakneck growth.

The trade war with the U.S. is now complicating those efforts, with analysts expecting Beijing to boost policy easing measures to manage the threats from the bilateral dispute that may derail growth.

Results of another private manufacturing survey focused on small and mid-sized firms will be released on Thursday.

China's official PMI gauge focuses on large companies and state-owned enterprises, while the private survey by Caixin and IHS Markit focus on small and medium-sized enterprises.

Let's block ads! (Why?)

https://www.cnbc.com/2018/10/31/chinese-pmi-china-reports-official-manufacturing-purchasing-managers-index-for-october.html

Bagikan Berita Ini

0 Response to "China expected to post slowing manufacturing growth in October"

Post a Comment

Powered by Blogger.