China's private manufacturing maintained expansion for the 11th consecutive month, marking the longest expansion streak since mid-2021, according to survey data released by RatingDog, a Shenzhen-based financial technology and credit research firm.
The RatingDog Purchasing Managers' Index (PMI) came in at 52.0 in October, edging down from September's 52.1. A reading above 50 indicates expansion.
Output growth accelerated to a six-month high, and new orders expanded for a 17th straight month. Both were driven by client demand and better production capacity, said Yao Yu, founder of RatingDog.
The data also indicated that price competition intensified and cost pressures persisted, with business confidence edging down slightly, though the sector still began the fourth quarter on a steady expansionary footing.
China's RatingDog Manufacturing PMI points to 11th straight month of expansion
