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China October factory activity shrinks for sixth month - official PMI

China October factory activity shrinks for sixth month - official PMI
FILE PHOTO: An employee works at a production line manufacturing optical fiber cables at a factory of the Zhejiang Headway Communication Equipment Co in Huzhou, Zhejiang province, China May 15, 2019. REUTERS/Stringer -
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CHINA STRINGER NETWORK(Reuters)
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BEIJING (Reuters) – Factory activity in China shrank for the sixth straight month in October, official data showed on Thursday, pointing to further pressure on its manufacturers as they grapple with the weakest economic growth in nearly 30 years.

The official Purchasing Managers’ Index (PMI) was at 49.3 in October, dipping from 49.8 in September, the survey from the statistics bureau showed. The 50-point mark separates expansion from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the PMI would remain flat at 49.8 from September.

(Reporting by Gabriel Crossley; Editing by Jacqueline Wong)

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