China official PMI data: October Manufacturing 50.1 (expected 50.0)

China National Bureau of Statistics (NBS) data, October 2024 PMIs

Manufacturing 50.1, first time in expansion for six months

• expected 50.0, prior 49.8

Non manufacturing 50.2

• expected 50.4, prior 50.0

Composite is 50.8

• prior 50.4

Stimulus announcements from China hit from late September and continued right through October. Stimulus announcement should continue once the People's Congress rubber stamps a few more:

• China vice fin min says further stimulus details after National People’s Congress session

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