According to China Federation of Logistics and Purchasing (CFLP), in October this year the purchasing managers index (PMI) of the Chinese manufacturing industry was 50.4, down 0.8 percentage points month on month. A positive trend had been observed in the previous two months.
The drop in the index implies the possibility of further drops in the fourth quarter of the current year. Meanwhile, in October the import index and new export order index for the Chinese manufacturing industry both declined to some extent. In October, the new export orders index was 48.6, declining by 2.3 percentage points from the previous month, while the import index dropped by 3.1 percentage points month on month to 47.