China’s manufacturing contracts for third straight monthStaff writer ▼ | November 2, 2015
China’s manufacturing contracted for the third consecutive month in October in a sign of weakness in the world’s second-largest economy.
Asian economy Chinese PMI was 49.8 for October
A PMI reading above 50 indicates an expansion of manufacturing activity while those below 50 indicate contraction.
The official non-manufacturing PMI, which gauges the services sector, was 53.1 percent for October, down from September’s 53.4. ■