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China’s Non-Manufacturing Activity Shows Growth in October
China’s non-manufacturing sector, covering both services and construction, showed a slight expansion in October, providing a glimmer of hope for policymakers working to boost economic recovery. According to the National Bureau of Statistics (NBS), the non-manufacturing purchasing managers' index (PMI) in October increased to 50.2 from 50.0 in September.
Services and Construction Lead the Growth
The non-manufacturing PMI tracks the performance of China's service and construction sectors. A reading above 50 points signifies expansion, while a score below indicates contraction. October’s score of 50.2 suggests that these sectors are cautiously rebounding, albeit at a slower rate than expected, as China strives to regain economic momentum.
Overall Economic Activity Gains Slightly
The NBS composite PMI—which includes both manufacturing and non-manufacturing activity—recorded a modest rise to 50.8 in October. This composite figure highlights China’s ongoing but gradual economic recovery, especially amid challenges in its broader manufacturing landscape.
