The Chinese Manufacturing Sector Shows Expansion For The Sixth Consecutive Month

A survey showed that factory activity in China expanded for the sixth consecutive month in October, as business confidence grew to its strongest levels in years.

The Caixin / Markit PMI for Chinese manufacturing came in at 53.6 for the month of October, better than analysts’ expectations of 53.0 in a Reuters poll. The survey results showed that the last reading was the highest since January 2011.

PMI readings above 50 indicate expansion, while PMI readings above 50 indicate contraction.

The PMI readings are sequential and indicate expansion or contraction on a monthly basis.