China: COVID-19 containment continues to restrict manufacturing output and demand

From pmi.spglobal.com

Chinese manufacturing business conditions deteriorated in October as COVID-19 containment measures weighed on both output and demand. That said, the decline was only marginal overall and weaker than in September. Although levels of both production and new business fell during October, rates of decline eased. The latest survey data highlighted companies' continued efforts to stimulate sales as output charges were reduced for a sixth month in a row. This came despite a renewed increase in operating costs, with panel comments suggesting this was primarily due to higher international prices for raw materials. Meanwhile, ... (full story)