China’s Manufacturing Likely Contracted Again on Power Shortages
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China’s factory slump showed no signs of letting up in October, with activity likely contracting for a second straight month as electricity shortages and soaring commodity prices hit manufacturers.
The official manufacturing purchasing managers’ index was likely little changed at 49.7 this month from 49.6 in September, according to the median estimate in a Bloomberg survey of economists. Readings below the 50-mark signal contraction. The National Bureau of Statistics is scheduled to release the data at 9 a.m. Sunday in Beijing.