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Dow Jones Newswires: China Caixin manufacturing PMI points to third straight month of contraction


A private gauge of activity in China’s manufacturing sector remained in contractionary territory in October, as Covid-19 containment measures weighed on both output and demand.

The China Caixin manufacturing purchasing managers index rose to 49.2 in October from 48.1 in September, according to data released Tuesday by Caixin Media Co. and S&P Global.

A reading above the 50 mark suggests activity expansion while one below that level indicates activity contraction.

On Monday, China’s statistics bureau said the official manufacturing PMI fell to 49.2 in October from 50.1 in September.

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