Chinese manufacturing industry maintains growth and records best series since 2021

China's manufacturing sector continued to grow in October for the 11th consecutive month, marking the longest streak since mid-2021, although at a slightly slower pace than September. The Purchasing Managers' Index (PMI) fell from 52.1 in September to 52 in October, surpassing analysts' expectations of a sharper decline to 51.6. A PMI above 50 indicates expansion, while below indicates contraction. RatingDog's data showed a more optimistic outlook compared to official figures, which indicated a contraction. The founder of RatingDog noted production increased at the fastest rate since April, with new orders rising for the 17th month. However, business confidence has dropped to its lowest level in three quarters due to concerns over high raw material prices and competition.