China's October official PMI edges down to 50.8
By Reuters
Oct 31, 2014 10:03 PM EDT
Regions
An employee guides a crane as it transports a roll of steel sheet, at a factory in Handan, Hebei province August 13, 2014. (Photo : Reuters)
China's factory sector grew in October but at a pace that was slightly slower than expected, underlining the challenges facing the sector as manufacturers fight rising costs and softening demand in a cooling economy.
The official Purchasing Managers' Index (PMI) eased to 50.8 in October from September's 51.1, but above the 50-point level that separates growth from contraction on a monthly basis.
Analysts polled by Reuters had forecast a reading of 51.2.
The data followed warnings by China's industrial ministry on Friday that factories were under pressure from high borrowing costs, which were further exacerbating the sector's slowdown.
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