News Summary

• The official manufacturing purchasing managers index slipped to 49 in October from 49.8 in September.
• China’s eight-day Golden Week national holiday in October contributed to slower factory activity, said Huo Lihui, chief statistician at the Bureau of Statistics.
• “U.S.-China agreements will likely prevent further deterioration rather than drive a robust recovery,” said Wei Li, head of multi-asset investments at BNP Paribas Securities (China) The ruling Communist Party highlighted those aims in documents released after a top level meeting last week that mapped out development priorities for the coming five years.