BEIJING Nov 1 China's official purchasing
managers' index (PMI) plunged to 44.6 in October, down from
51.2 in September, the China Federation of Logistics and
Purchasing (CFLP) said on Saturday.
That meant the index fell back below the boom-bust line of
50, indicating a contraction of factory activity, after
creeping above it last month.
It was the lowest reading in the history of the survey,
offering the latest evidence that the global financial crisis
is exacting a cost on the Chinese economy.
A reading over 50 indicates an expansion of activity, while
one below 50 suggests contraction.
Purchasing managers' index:
Oct Sep Aug Jul Jun May Apr
Overall PMI 44.6 51.2 48.4 48.4 52.0 53.3
(Reporting by Simon Rabinovitch; Editing by Kim Coghill)