Group 1 - The core viewpoint of the article indicates that the manufacturing PMI for October has decreased to 49% from 49.8% in September, reflecting a weaker performance compared to seasonal levels in previous years [1] - The non-manufacturing business activity index has slightly increased to 50.1% from 50% in September, partially due to disruptions from holiday scheduling and a reduction in working days impacting production activities [1] - Overall, the October industrial production and export readings may be affected by holiday scheduling disruptions, while consumption indicators could see marginal improvement [1] Group 2 - Looking ahead, the PMI indicators remain in a weak range, suggesting that counter-cyclical policies need to be strengthened to boost the manufacturing sector's performance [1]
华泰证券:假期错位拖累10月制造业PMI回落