China’s factory activity growth in October missed market expectations, as trade tensions with the U.S. intensified during the month, according to a private survey released Monday.
The RatingDog China General Manufacturing PMI, compiled by S&P Global, dropped to 50.6 in October from the six-month high of 51.2 in September, missing analysts’ expectations of 50.9 in a Reuters poll.
Staying above the 50-benchmark that separates growth from contraction, the private survey numbers were better compared to the official survey released last Friday that showed manufacturing activity falling to 49.0, its worst contraction in six months.
Private surveys, previously conducted by Caixin and S&P Global, have usually painted a better picture than official polls over the past years as they have focused more on export-oriented manufacturers.
The RatingDog private survey covers 650 manufacturers and collects responses in the second half of each month while the official PMI surveys a larger sample of over 3,000 companies at month-end.
