China | Slowdown on weak demand rather than supply issues

China’s official manufacturing PMI fell 0.4 points to 49.2 in October, while the non-manufacturing PMI dropped to 52.4, from 53.2 in September. High frequency indicators show further declines in housing sales in major cities and car sales. These indicators show that economic momentum in China’s industry worsened in October amid the downturn in residential real estate and continued impact from repeated Covid outbreaks.

Download the report to find out:

• What does China’s latest official manufacturing PMI survey tell us?
• Why are supply constraints not a paramount problem for China anymore?
• What’s our latest forecasts for China’s industry and GDP growth?