China’s manufacturing slows for 2nd straight month in Oct

By ZEN SOO
AP Business Writer

BEIJING (AP) — Official data show Chinese manufacturing activity contracted for a second straight month in October amid materials shortages and widespread power cuts. The National Bureau of Statistics said the official manufacturing purchasing managers index dipped to 49.2 in October, down from 49.6 in September. The index is measured on a 100-point scale on which numbers above 50 show activity increasing. The indicators are closely watched as a barometer of China’s economic growth. Analysts have warned activity may slow further as manufacturers grapple with the power crunch, shortages of materials and surging costs.