Economics
China Feels Trade War Pain as Export Gauge Signals Worse to Come
- New export orders contract, at lowest level since early 2016
- Non-manufacturing PMI drops, with services leading decline
Photographer: Qilai Shen/Bloomberg
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The first official gauge of China’s economy in October showed manufacturing activity continued to worsen, as the effects of an ongoing trade war with the U.S. hit home.
The manufacturing purchasing managers index fell to 50.2 this month, lower than projected in a Bloomberg survey of forecasters. A gauge of new orders for export, which gives an indication of demand, fell further into contraction territory, dropping to the lowest reading since early 2016.