Investing.com - The Caixin manufacturing PMI soared to 51.2, a full point above the expected 50.2, and followed the semi-official China Federation of Logistics & Purchasing (CFLP) manufacturing PMI for October also at 51.2, data released on Tuesday showed, beating an expected 50.4, as the CFLP non-manufacturing PMI, rose to 54.0 from 53.7 in the previous month.
The CFLP noted confidence has gained.
"Gains in all the sub-indexes, except new export orders and import orders, suggest companies' confidence is broadly recovering, and production activities are tending to recover fully," Zhang Liqun, a government economist advising CFLP, said in the statement. "Although there are external uncertainties, economic growth is not expected to fall within the year."
For Caixin, the production figures stood out.
"Stronger growth in production supported the higher headline index reading in October. Furthermore, the latest increase in output was the fastest since early 2011," Caixin said.
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