- China's official manufacturing PMI increased to an 18-month high of 51.4 in October from 51.1 in September and surpassed consensus of 51.2. (PR)
- However, the reading for big companies rose, while that for smaller ones dropped into contraction territory, highlighting the unbalanced nature of China's economy.
- HSBC PMI edged up to 50.9 (flash 50.9) from 50.2.
- Output growth hit a six-month high, an expansion in new orders and export orders accelerated, and the survey indicated the fastest accumulation of work-in-hand since March 2011.
- The stronger momentum of manufacturing growth translated into the first expansion of employment since March, HSBC said. "This in turn should support private consumption growth in the coming months. China is on track for a gradual growth recovery." (PR)
- Meanwhile, prices for new homes in 100 cities climbed an average of 10.7% on year in October, data from research firm China Real Estate Index System shows.
- The Shanghai Composite is +0.35%.
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Chinese manufacturing activity edges up
Nov 1 2013, 02:50 ET