Chinese Manufacturing Activity Slows Sharply in Oct

Resource from: CBCC Likes:2927

Nov 07,2008

China's manufacturing activity slowed sharply last month amid gloomy global economic outlook, an industry organization said Monday (Nov 3). The China Federation of Logistics and Purchasing said its purchasing managers' index, a broad measure of new orders, exports and other factors, fell to October's 44.6 from September's 51.2. It was the lowest level since the survey began in 2005. A number above 50 indicates activity is growing, while a number below 50 shows it is contracting. The federation explained that October's slowdown was driven by a downturn in export orders and demand for goods such as steel and machinery.

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