Caixin Insight: PMI Figures Underscore Signs of Tentative Recovery

The Caixin China Purchasing Managers' Index for the manufacturing and services sectors were 48.3 and 52 in October, marking a turnaround from September's 47.2 and 50.5. The services PMI has been above the neutral 50-point level for 120 months in a row. The Caixin Composite Output Index, which combines the two, was 49.9 last month, only marginally below the neutral level and up 1.9 points in September.