Workers assemble at a workshop of an equipment manufacturing enterprise in Yunmenshan Street, Qingzhou city, East China's Shandong province, Aug. 9, 2023.
China's factory activity swung back into expansion among smaller manufacturers in October, according to a private survey released on Friday.
The Caixin/S&P Global manufacturing PMI came in at 50.3 in October, beating the median estimate of 49.7 in a Reuters poll.
A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction.
This private gauge, which focuses on smaller and export-oriented firms, comes after the official PMI data, released Thursday, indicated that manufacturing activity in the country expanded for the first time since April.
Organizations:
P Global, PMI
Locations:
Yunmenshan, Qingzhou city, East China's Shandong