Business business activity of Chinese industry is accelerating in October

The business business activity of the Chinese industry is accelerating in October, as the Purchasing Managers’ Index (PMI) increased from 50.4 to 51.2 points. This is the fourth consecutive month of expansion and the highest level since July 2014, after output rose the most since March 2011, and new orders recovered. The exchange reacted positively, as Shangahi Composite recorded a rise of 0.65%.

The service sector sent good news to the economists, as the non-industrial PMI index grew from 53.7 points to 54.0 points in October, which is the highest level since end of 2015. At the same time the employment returned to expansion, while producer prices, sales prices and delivery time increased . The purchase orders decreased slower that the previous month.

In recent months there is a number of signals that the Chinese economy stabilizes. The booming property market and rising government spending supported growth to 6.7% on an annual basis, although small and medium-sized private enterprises, which are the focus of the study, continue to experience difficulties.

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