BEIJING - China's manufacturing sector returned to the expansion zone in October after five consecutive months of contraction, official data showed Thursday.
The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.1 in October, up from 49.8 in September and surpassing the boom-or-bust line of 50 for the first time since May, the National Bureau of Statistics (NBS) said in a statement.
Commenting on the data, NBS statistician Zhao Qinghe said China's economic sentiment continued to improve in October as a new package of incremental policies were rolled out and existing policies also gradually took effect.
Non-manufacturing PMI at 50.2
The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.2 in October, up from 50 in September.
The service sector sub-index stood at 50.1 in October, up from 49.9 in September, while that of construction fell to 50.4 from 50.7 in the same period, according to the NBS.
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A breakdown of the data showed that railway transport, water transport, air transport, postal services, capital market services and ecological conservation recorded an expansion in October, while those related to wholesale, accommodation, internet software and information technology services, property sector, and resident services logged contraction.
The business expectation index for the service sector remained at a high level of 56.2 in October. Particularly, the business expectation indices for industries such as railway transport, postal services, monetary and financial services, and capital market services were all above 65 percent -- indicating that enterprises in these sectors are optimistic about market prospects, said NBS senior statistician Zhao Qinghe.
The business expectation index for the construction sector improved to 55.2 in October, revealing that construction companies have greater confidence in market development prospects, according to Zhao.