China factory growth slows in October as export orders ease, private PMI shows

China's factory activity expanded at a slower pace in October as export order growth slowed, according to a private survey released on Monday by S&P Global. The RatingDog China General Manufacturing Purchasing Managers' Index (PMI) edged down to 52.0 in October from 52.1 in September, just above the 50-mark separating growth from contraction.

This contrasts with the official PMI released on Saturday, which indicated factory activity unexpectedly fell. The new orders index also slowed to a three-month low, with output prices falling as firms cut prices to support sales amid intense competition. Despite this, purchasing activity grew at the fastest pace since February, and stocks of purchased goods increased at the strongest pace in five months.

Business confidence, however, remained positive but slipped to a nine-month low, with some firms citing elevated input prices and stiffer competition as concerns.

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