China's manufacturing sector has shown signs of contraction, with the purchasing managers' index (PMI) dropping to 49.5 in October 2023 from 50.2 in September 2023, according to data released by the National Bureau of Statistics (NBS). A PMI score below 50 indicates contraction in the sector.Notably, the new-orders subindex within the official manufacturing PMI also fell to 49.5 from 50.5 a month earlier. Additionally, the new-export-orders subindex declined to 46.8, down from 47.8 in September, according to Chinese media reports.
China's manufacturing sector contracted in October 2023, with the purchasing managers' index dropping to 49.5 from 50.2 in September 2023.
The country's new-orders subindex fell to 49.5 in October 2023 from 50.5 a month earlier.
The new-export-orders subindex also declined to 46.8 in October 2023, indicating weaker demand internationally.
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