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Chinese Manufacturing PMI Stable in October

Economy, Steel

The official Chinese manufacturing Purchasing Managers’ Index (PMI) inched down to 51.4 in October from 51.5 in September, data from the National Bureau of Statistics reveal. Monthly readings have remained above 50.0, which indicates expansion, in each month since March.

Meanwhile, the country’s steel sector PMI rose to 45.8 in October from 43.9 a month earlier, according to the China Steel Logistics Professional Committee.