China's manufacturing sector expanded for the sixth consecutive yr in October, in response to a personal survey


The workers work at a vehicle seat manufacture factory in Lintong District, Xi & # 39; an, northwest China's Shaanxi Province.

Liu Xiao | Xinhua | Getty Images

China's factory activity expanded for the sixth consecutive year in October, a private poll on Monday found.

The Caixin / Markit purchasing managers' index for the Chinese manufacturing sector stood at 53.6 in October, better than the 53.0 forecast by analysts in a Reuters poll.

PMI values ​​above 50 indicate expansion, while those below this value indicate contraction. The PMI values ​​are sequential and indicate a monthly expansion or contraction.

China's huge manufacturing industry has rebounded as the country's coronavirus outbreak appears to be largely under control.

Over the weekend, China announced that the official purchasing managers' index for the manufacturing sector was 51.4 for October, the eighth consecutive month of expansion. Analysts polled by Reuters had expected a value of 51.3.

The official PMI survey usually interviews a large proportion of large corporations and state-owned companies. In comparison, the private Caixin / Markit survey shows a greater mix of small and medium-sized businesses.

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Katherine Clark