In October, RatingDog's China Manufacturing PMI fell to 50.6, indicating a slowdown in the expansion of the manufacturing sector

In October, RatingDog's China Manufacturing PMI fell to 50.6, indicating a slowdown in the expansion of the manufacturing sector. (1) Production and Demand: Both the production and new orders indices have declined. Affected by external trade uncertainties, new export orders have significantly dropped and entered the contraction zone. Despite weak export orders, domestic demand and promotional activities have supported the total volume of new orders, allowing it to maintain a weak expansion trend overall. At the same time, uncertainties in the external environment have also suppressed production activities; although the relevant sub-indices have decreased month-on-month, they remain in the expansion zone. (2) Price Indicators: Price indicators continue to show divergence. The pattern of "raw material prices rising while finished product prices falling" persists, with manufacturers offering discounts to maintain sales, leading to continued pressure on corporate profit margins. Overall, in October, RatingDog's manufacturing PMI continued to show an expansion trend, but most sub-indices recorded month-on-month declines. Looking ahead, market attention will focus on the "14th Five-Year Plan" related policies of "stabilizing the economy" and "promoting domestic demand," which are expected to provide some support for the PMI