China’s manufacturing activity at 18-month high
London – China’s manufacturing activity has reportedly grown at its fastest pace since the past 18 months in October.
The official Purchasing Managers’ Index (PMI), which determines the sector’s growth, rose to 51.4 from 51.1 in September, the BBC reports.
According to the report, the manufacturing sector is a key component of China’s economic growth and a PMI reading above 50 indicated boom in the sector, which signaled a recovery in the world’s second-largest economy.
Official data also revealed growth in industrial output, retail sales and fixed asset investment, the report added.