China manufacturing PMI survey shows slower growth (by Michael Kitchen)
LOS ANGELES (MarketWatch) -- China's official manufacturing Purchasing Managers Index fell to 50.4 in October from the prior month's reading of 51.2, the China Federation of Logistics & Purchasing reported Tuesday. The index, drawn from a survey of manufacturers, was well below a median forecast of 51.7 from a Dow Jones Newswires poll of economists, but remained above the 50 level that separates expansion from contraction. A privately compiled manufacturing PMI was due out from HSBC later in the day.