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在线翻译:
szdaily -> Business/Markets -> 
Factory sector barely expands in October
    2018-11-02  08:53    Shenzhen Daily

CHINA’S manufacturing sector barely grew after stalling in September, a private survey showed, while an extended contraction in export orders highlighted rising pressure on the economy as a trade spat with the United States intensified.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for October, released Thursday, edged up to 50.1 from 50 in September. Economists polled had forecast a reading of 49.9, just off the 50-mark that divides expansion from contraction.

The rather shallow growth last month was in line with an official PMI survey released Wednesday that showed China’s manufacturing sector expanded at the weakest pace in over two years.

The feeble performance in the vast factory sector, a major domestic and global driver of growth, backs expectations of further stimulus support from the government as it tries to prevent a sharp downturn for the economy. The Sino-U.S. trade row, and the risks from the dispute to the Chinese and global economies, have rattled financial markets recently.

The Caixin survey showed factory output dropped for the second straight month and was only fractionally above the neutral 50.0 level, amid weaker demand at home and abroad. That dragged business confidence among manufacturers to an 11-month low.

“China’s economy has not seen any obvious improvement,” said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, in a note accompanying the survey. “The expansion across the manufacturing sector was still weak. Production and business confidence continued to cool despite stable demand. The pressure on production costs didn’t ease.”

While new export orders — an indicator of future activity — improved to 48.8 from 47.6 in September, they remained in contraction phase for the seventh consecutive month as the trade row with the United States deepened.

October was the first full month after the latest U.S. tariffs went into effect.

The external pressure is already starting to depress activity in major areas of China’s economy, which grew at its weakest pace since the global financial crisis in the third quarter. Analysts say business conditions will get worse before getting better.

The sub-index for overall new orders — domestic and foreign — rose slightly to 50.4 from 50.1 in September. (SD-Agencies)

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