Chinese Manufacturing Weakens, Adding to Economic Pressure

[Epoch-Times-Bot]

Chinese Manufacturing Weakens, Adding to Economic Pressure

BEIJING—Chinese manufacturing weakened in October, an official survey showed Monday, adding to downward pressure on the economy as the ruling Chinese Communist Party (CCP) tries to reverse a slowdown.
A monthly purchasing managers' index declined to 49.2 from September's 50.1 on a 100-point scale where numbers below 50 indicate activity contracting, according to the CCP’s statistics bureau and an official industry group.
Measures of production, new orders, and employment declined, the National Bureau of Statistics and the China Federation of Logistics & Purchasing announced.
The reading was in line with forecasts that economic growth would weaken in late 2022 as global demand for exports cooled and repeated shutdowns of Chinese cities to contain virus outbreaks weighed on consumer spending....

Source: Chinese Manufacturing Weakens, Adding to Economic Pressure

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