Manufacturing production down in China in October

ISTANBUL

The Chinese manufacturing sector saw a renewed deterioration in overall conditions last month, while companies posted a slight decline in production.

According to data provider S&P Global's press release on Wednesday, weaker domestic demand affected overall sales severely in October.

"As a result, goods producers trimmed their purchasing activity and ran down their inventories of inputs," it added.

The number of employed persons also fell in October, at a faster rate than in September.

"On the costs front, manufacturers signaled the quickest increase in average input prices since January, leading to a further rise in selling prices," S&P Global said.

The country's purchasing managers' index (PMI) for the manufacturing sector was down to 49.5 from 50.6, month-on-month in October.

"Though only marginal, it was the first time that a deterioration has been recorded since July," it added.