<p>Factory activity in China dipped slightly in October, according to official data published Saturday, but remained in growth territory as the world's second-largest economy continued its recovery after being hammered by the coronavirus.</p>.<p>The closely watched Purchasing Managers' Index (PMI) is a key gauge of manufacturing activity in China, which has largely bounced back after plunging in February because of tough pandemic-control measures.</p>.<p>In October, the PMI figure stood at 51.4, slightly below the reading of 51.5 for September. Any figure above the 50-point mark represents growth while below it signals a contraction.</p>.<p>Zhao Qinghe, a senior statistician at the National Bureau of Statistics (NBS), said that this month's figures, with increases in several key indices including exports, imports and new orders, demonstrated a "quick recovery".</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/international/china-wants-to-build-a-tibet-with-more-wealth-and-less-buddhism-909421.html">China wants to build a Tibet with more wealth and less Buddhism</a></strong></p>.<p>"Manufacturing in major economies is bouncing back... and a recovery in demand has driven up prices," Zhao said.</p>.<p>Textiles, chemical raw materials, chemical products, rubber and plastic products used in the fight against the pandemic saw the biggest increase in demand, he added.</p>.<p>In February, China's manufacturing PMI plunged to 35.7 points after the coronavirus brought much of China to a standstill.</p>.<p>Non-manufacturing PMI came in at 55.2 points -- an increase of 0.3 percentage points from September, showing further signs of an economic rebound.</p>.<p>China is expected to be the only major economy to record positive growth this year.</p>.<p>The International Monetary Fund has nearly doubled the country's growth forecast in 2020 to 1.9 per cent amid a strong recovery fuelled by its ability to curb its coronavirus outbreak and strong global demand for medical equipment.</p>.<p>The world's second-largest economy grew 4.9 per cent in the third quarter from a year earlier, according to official data.</p>.<p>That represented a recovery from a record contraction in the first three months as strict lockdown measures ended and the government unveiled a stimulus plan to cushion the economy from the pandemic.</p>
<p>Factory activity in China dipped slightly in October, according to official data published Saturday, but remained in growth territory as the world's second-largest economy continued its recovery after being hammered by the coronavirus.</p>.<p>The closely watched Purchasing Managers' Index (PMI) is a key gauge of manufacturing activity in China, which has largely bounced back after plunging in February because of tough pandemic-control measures.</p>.<p>In October, the PMI figure stood at 51.4, slightly below the reading of 51.5 for September. Any figure above the 50-point mark represents growth while below it signals a contraction.</p>.<p>Zhao Qinghe, a senior statistician at the National Bureau of Statistics (NBS), said that this month's figures, with increases in several key indices including exports, imports and new orders, demonstrated a "quick recovery".</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/international/china-wants-to-build-a-tibet-with-more-wealth-and-less-buddhism-909421.html">China wants to build a Tibet with more wealth and less Buddhism</a></strong></p>.<p>"Manufacturing in major economies is bouncing back... and a recovery in demand has driven up prices," Zhao said.</p>.<p>Textiles, chemical raw materials, chemical products, rubber and plastic products used in the fight against the pandemic saw the biggest increase in demand, he added.</p>.<p>In February, China's manufacturing PMI plunged to 35.7 points after the coronavirus brought much of China to a standstill.</p>.<p>Non-manufacturing PMI came in at 55.2 points -- an increase of 0.3 percentage points from September, showing further signs of an economic rebound.</p>.<p>China is expected to be the only major economy to record positive growth this year.</p>.<p>The International Monetary Fund has nearly doubled the country's growth forecast in 2020 to 1.9 per cent amid a strong recovery fuelled by its ability to curb its coronavirus outbreak and strong global demand for medical equipment.</p>.<p>The world's second-largest economy grew 4.9 per cent in the third quarter from a year earlier, according to official data.</p>.<p>That represented a recovery from a record contraction in the first three months as strict lockdown measures ended and the government unveiled a stimulus plan to cushion the economy from the pandemic.</p>