China factory PMI slides to 49.3 in October, below forecasts
China's official manufacturing PMI fell to 49.3 in October from 50.1, below the 50.0 Reuters poll forecast, as soft demand weighed on factories.
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what happened
China's official manufacturing PMI dropped to 49.3 in October from 50.1 in September, according to the National Bureau of Statistics, as reported by Reuters. The reading came in below the 50.0 median expectation in a Reuters poll and marked the sharpest contraction in three months.
Weak domestic and overseas orders hit factories hard. The index is built from survey answers on new orders, output and jobs compared with the prior month; readings above 50 point to expansion, below 50 to contraction.
why it matters
For markets the signal is mixed: weak factory data raises hopes for more support for China's economy, but it also points to softer demand for raw materials, including metals.
market impact
Copper and yuan: weak demand from China's factories pressures industrial metals and the currency
- Copper pressure down — softer orders from Chinese factories reduce demand for the metal
- Yuan pressure down — weak industrial data worsens the outlook for China's economy and currency
tags
instruments
sources
- China's October factory activity contracts at fastest pace in 3 months, PMI survey shows — Reuters, 31 October 2026 at 01:44 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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