China official PMIs for October. Manufacturing 49.3 (vs. expected 49.8),

From China's National Bureau of Statistics, the official PMIs for the month

Manufacturing in at a big miss indeed, 49.3

  • expected 49.8, prior 49.8

Non-manufacturing 52.8

  • expected 53.6, prior 53.7

Composite 52.0

  • prior 53.1

For the manufacturing PMI:

  • output fell
  • new orders fell into contraction
  • new export orders fell further into contraction
  • the employment sub index in contraction for many, many months

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