10月中国非制造业经营活动继续趋稳运行

Core Insights - The non-manufacturing business activity index in China for October is reported at 50.1%, indicating a slight month-on-month increase of 0.1 percentage points, suggesting stable operational activity in the non-manufacturing sector [1][2] Group 1: Non-Manufacturing Sector Performance - The inventory index, input prices index, sales prices index, employment index, and business activity expectations index all saw increases ranging from 0.2 to 1.1 percentage points compared to the previous month [1] - The new orders index remained unchanged from the previous month, indicating stable demand in the non-manufacturing sector [1] - The new export orders index, backlog of orders index, and supplier delivery time index experienced declines, with decreases ranging from 0.2 to 3.6 percentage points [1] Group 2: Economic Outlook - The construction activity index in the civil engineering sector rose significantly to above 55%, indicating a potential acceleration in infrastructure investment activities at the beginning of the fourth quarter [2] - Overall, the non-manufacturing sector continues to show stability, with positive changes in investment and consumption-related activities [2] - The release of policies aimed at stabilizing growth is expected to strengthen domestic demand in the fourth quarter, providing solid support for achieving annual economic and social development goals [2]