China’s flash HSBC/Markit manufacturing PMI grew to a three month high of 50.4 in the latest report, up from 50.2 in September, Reuters reported. However, growth in new orders at home and abroad slowed in October and producer prices fell, pushing factory inflation to a seven-month low and highlighting still-soft domestic demand. Additionally, the index measuring the rate of growth in factory output fell to a five-month low of 50.7. A Hong Kong-based economist described the situation as not getting worse, but rather having “stabilized at this quite subdued level.”
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