Activity in China’s manufacturing sector accelerated at the fastest pace in nearly a decade in October as domestic demand surged. A private business survey showed on Monday the economy is quickly recovering from the Covid crisis.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 53.6 from September’s 53.0. The reading was above analysts’ expectations and the highest since January 2011. The 50-threshold separates growth from contraction.
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