China's private factory PMI holds above 50 in October, beating forecasts
China's private factory gauge slipped to 52.0 in October from 52.1 but beat forecasts, while S&P Global's survey still showed expansion above the 50 threshold.
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what happened
The private survey by S&P Global, which compiles the RatingDog China General Manufacturing PMI, showed the index dipping to 52.0 in October from 52.1 in September. Analysts polled by Reuters had expected 51.6. Any reading above 50 signals expanding business activity.
Growth in new export orders slowed to a three-month low, yet output rose at its quickest pace in half a year. Factories cut selling prices to defend sales, and export prices fell for the first time since November 2025.
The result diverges from the official PMI released on Saturday, which unexpectedly showed factory activity contracting. Business confidence stayed positive but dropped to a nine-month low, with some firms pointing to higher input costs and sharper competition as main concerns.
why it matters
For markets, the private gauge suggests manufacturing momentum is holding up, partly offsetting weakness in the official data. Still, slower exports and cheaper factory goods keep questions open about demand and margins for Chinese companies and commodity importers.
market impact
China equities and yuan: solid output supports growth hopes, while softer exports and prices weigh
- China equities mixed — output growth is strong, but export orders and factory prices weaken
tags
instruments
sources
- China factory growth slows in October as export orders ease, private PMI shows — Reuters, 2 November 2026 at 01:45 UTC
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