In a significant revelation for the global economy, the Purchasing Managers' Index (PMI) data for China's manufacturing sector has shown a decline. The PMI, jointly assessed by Caixin Media Co and S&P Global, plummeted to 49.5 in October, compared to the previous month's 50.6. This figure is derived from an extensive survey involving nearly 400 companies, with a strong focus on smaller privately-owned entities.

Despite an increase in order volumes for the third consecutive month, this marks the second successive month of deceleration in the growth rate