China’s Manufacturing Sector Expands at Fastest Pace in Nearly Three Years, Caixin PMI Shows

China’s manufacturing activity expanded at the fastest pace in nearly three years in October as output and new orders grew at a clip not seen in several years, a Caixin-sponsored survey showed Friday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the manufacturing sector’s operating conditions, increased to 51.7 in October from 51.4 in the previous month. The reading hasn’t been this high since February 2017.