Official Data: China factory output fell for the second month in October

The Chinese National Bureau of Statistics has released the latest manufacturing activities data for the month of October 2021, which showed a drop of 0.4 percentage points from September to 49.2, marking the second consecutive month of falling.

Industry experts said that rising raw material costs coupled with the electricity issue in the country are the causes of the decline.

Sub-index for new orders contracted for the third month in a row, to 48.8 in October.

The non-manufacturing index fell to 52.4 in October from 53.2 in the previous month.