The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released the China Purchasing Managers Index in October on October 31. Data show that the manufacturing boom level has been adjusted back, and the manufacturing purchasing managers index has returned to the contraction range. However, new driving forces have continued to expand, and their supporting role in the manufacturing industry has been prominent.

China's manufacturing purchasing managers' index in October was 49.3%, down 0.8 percentage points from the previous month and falling back below the boom-bust line. Judging from historical data, this period of the year is easily disturbed by seasonal factors. This round of decline is mainly due to the decline in overseas related orders after the concentrated release last month, the consumption peak has become flat after the long holiday, and the basic raw material industry has entered the off-season, which is a phased change.

The manufacturing boom experienced a seasonal correction in October, and industry differentiation was relatively obvious. New energy industries such as equipment manufacturing and high-tech manufacturing continued to expand, hedging against the downward pressure on traditional industries.

From the perspective of supply and demand, the overall manufacturing market demand rebounded in October. The new orders index was 49.4%, down 1.1 percentage points from the previous month; the new export orders index was 48.7%, also down. The production index was 49.8%, down 1.9 percentage points from the previous month, and production activities were generally stable.

In terms of prices, the purchasing price and ex-factory price of manufacturing raw materials have slowed down. The purchase price index was 56.8%, down 4 percentage points from the previous month; the ex-factory price index was 51.7%, down 2.3 percentage points. Although the two indexes have fallen, they are still higher than the same period last year, and the overall price of industrial products is at a relatively high level.