Nov. 2, 2012 (China Knowledge) - China's official purchasing managers' index, a major indicator of the strength of the manufacturing sector, increased to 50.2 in October, an increase of 0.4 point from 49.8 in September, according to figures jointly released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics
The figure last month was lower than an average forecast of 50.3 made by 9 analysts at Dow Jones Newswires.
The production index increased 0.8 point from the previous month to 52.1 in October. The new export order stood at 50.4, 0.6 point higher than in September 2012.
The raw material inventory index rose 0.3 points to 47.3 in October.The raw material purchasing price index grew 3.3 point from the previous month to 54.3.
The PMI consists of five sub indices that measure economic performance: production index, new order index, raw material inventory index, employment index and supplier delivery index, a reading of above 50 suggests expansion, while one below 50 indicates contraction.