Breaking Down China’s October PMI Data

The video discusses the decline in Manufacturing PMI for October, noting market expectations and potential seasonality effects. Despite lower numbers, high-frequency data like electricity production and trade indicators show positive trends. Business confidence remains sluggish, especially in sectors affected by US trade, but some domestic sectors are performing well. The non-manufacturing PMI, including construction and services, remains stable, indicating healthy domestic demand.

What trends are observed in the construction and services sectors despite the pressure on manufacturing?

In what ways do domestic demand and sectors appear to be performing according to the non-manufacturing PMI?