China's official manufacturing purchasing managers' index declined to 49.3 in October from 50.1 in September, dropping below the 50-point threshold separating expansion from contraction. Weakening domestic and export orders drove the contraction, though high-tech and equipment manufacturing continued to expand. Non-manufacturing and composite gauges also slipped into contraction at 49.7.
China's logistics sector saw expanding investment, higher employment, and improving facility efficiency in September, according to the China Federation of Logistics and Purchasing. The equipment utilization index rose to 50.1 percent, entering expansion territory for the first time this year. Business expectations for the fourth quarter strengthened, even as operational cost pressures persisted.
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