China's manufacturing expanded for the eighth straight month in October and forward-looking indicators pointed to a further pickup under way, according to a government index released Nov. 1. The data adds up to a picture of an economy that's on track for acceleration in the October-to-December period, marking the third-straight quarterly pickup.
The Purchasing Managers Index rose to 55.2 in October from 54.3 in September, the China Federation of Logistics and Purchasing said in a release. A gauge of export orders rose to 54.5 from 53.3, the sixth straight month of gains. General orders notched a similar advance, rising to 58.5 from 56.8, its ninth straight month of expansion.
China's economy will likely expand at 9.5 percent in the current quarter, Zhang Liqun, an official at the State Council's economic research department, said in the statement.
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