China’s October manufacturing expands at faster pace

China's manufacturing grew at its fastest pace in 18 months in October, confirming country's economic rebound.

As per the state-sanctioned China Federation of Logistics & Purchasing, the PMI jumped to 55.2 per cent in October, up from 54.3 per cent in September.

Imports, which are used mainly to be processed into exports, reported an increase of 2.1 points in October. New orders jumped 1.7 points as compared with September.

The government said gross domestic product jumped 8.9 per cent during the third quarter.

It may be noted here that a 50 plus figure indicates a growth in the manufacturing sector.

This was the eighth consecutive monthly growth, reported by the China's manufacturing sector.

Speaking his mind, economist Zhang Liqun of think tank Development Research Center, said, "These figures mean that China's economic growth will continue to accelerate in the next few months."

In the recent trading, the Shanghai Composite Index gained 0.1 per cent.