National Bureau of Statistics: In October, the composite PMI output index was 49.7%, down 1.0 percentage point from the previous month.

On October 31, data from the National Bureau of Statistics showed that in October, the manufacturing Purchasing Managers' Index (PMI) was 49.3%, down 0.8 percentage points from the previous month, indicating a decline in manufacturing activity. The non-manufacturing business activity index was 49.7%, down 0.5 percentage points from the previous month, indicating a decline in non-manufacturing activity. The composite PMI output index was 49.7%, down 1.0 percentage point from the previous month, indicating an overall slowdown in the production and operation activities of Chinese enterprises. The full text is as follows I. China Manufacturing Purchasing Managers' Index Performance In October, the manufacturing Purchasing Managers' Index (PMI) was 49.3%, down 0.8 percentage points from the previous month, indicating a decline in manufacturing activity. By enterprise size, the PMI for large enterprises was 50.2%, down 0.4 percentage points from the previous month, but still above the critical point; the PMIs for medium and small enterprises were 48.4% and 47.5%, respectively, down 1.3 and 1.4 percentage points from the previous month, below the critical point. By sub-index, among the 5 sub-indices constituting the manufacturing PMI, the supplier delivery time index was above the critical point; the production index, new orders index, raw material inventory index, and employment index were below the critical point. The production index was 49.8%, down 1.9 percentage points from the previous month, indicating a slowdown in manufacturing production activity. The new orders index was 49.4%, down 1.1 percentage points from the previous month, indicating a decline in manufacturing market demand. The raw material inventory index was 48.4%, up 0.2 percentage points from the previous month, indicating a narrowing decline in major raw material inventories in manufacturing. The employment index was 48.4%, unchanged from the previous month, indicating overall stable employment activity in manufacturing enterprises. The supplier delivery time index was 50.2%, up 0.1 percentage points from the previous month, indicating faster delivery times for manufacturing raw material suppliers. II. China Non-Manufacturing Purchasing Managers' Index Performance In October, the non-manufacturing business activity index was 49.7%, down 0.5 percentage points from the previous month, indicating a decline in non-manufacturing activity. By industry, the construction industry business activity index was 48.0%, down 2.3 percentage points from the previous month; the services business activity index was 50.0%, down 0.2 percentage points from the previous month. By services industry, the business activity indices for railway transportation, waterway transportation, postal services, internet software and information technology services were all in the relatively high expansion range above 55.0%; the business activity indices for capital market services, insurance, real estate and other industries were all below the critical point. The new orders index was 44.4%, down 2.1 percentage points from the previous month, indicating a decline in non-manufacturing market demand. By industry, the construction industry new orders index was 40.0%, down 5.7 percentage points from the previous month; the services new orders index was 45.2%, down 1.5 percentage points from the previous month. The input prices index was 51.5%, down 1.0 percentage point from the previous month, indicating a narrowing increase in the overall price level of inputs used by non-manufacturing enterprises for business activities. By industry, the construction industry input prices index was 52.4%, down 1.6 percentage points from the previous month; the services input prices index was 51.4%, down 0.8 percentage points from the previous month. The selling prices index was 49.5%, down 0.8 percentage points from the previous month, indicating a decline in the overall selling price level of non-manufacturing enterprises. By industry, the construction industry selling prices index was 48.9%, up 0.4 percentage points from the previous month; the services selling prices index was 49.6%, down 1.0 percentage point from the previous month. The employment index was 46.0%, up 0.1 percentage points from the previous month, indicating a slight improvement in employment activity in non-manufacturing enterprises. By industry, the construction industry employment index was 42.0%, down 2.3 percentage points from the previous month; the services employment index was 46.7%, up 0.5 percentage points from the previous month. The business activity expectations index was 54.7%, down 0.8 percentage points from the previous month, but still above the critical point, indicating that non-manufacturing enterprises remain confident about market development. By industry, the construction industry business activity expectations index was 52.3%, down 3.1 percentage points from the previous month; the services business activity expectations index was 55.2%, down 0.3 percentage points from the previous month. III. China Composite PMI Output Index Performance In October, the composite PMI output index was 49.7%, down 1.0 percentage point from the previous month, indicating an overall slowdown in the production and operation activities of Chinese enterprises. This article was edited from the "National Bureau of Statistics" by GMTEight editor Zhang Jinliang.