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Chinese manufacturing weakens, adding to economic pressure

By AP News - Oct 31, 2022, 01:12 AM ET
Last Updated - Jun 23, 2023, 11:25 PM EDT
manufacturing_china
The figures “point to a further loss of momentum this month as virus disruptions worsened and export orders remained under pressure."

An official survey shows Chinese manufacturing weakened in October

BEIJING (AP) — Chinese manufacturing weakened in October, an official survey showed Monday, adding to downward pressure on the economy as the ruling Communist Party 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 government statistics bureau and an official industry group. 

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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 fight virus outbreaks weighed on consumer spending. 

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