October PMI 'signals growth momentum'

Economic indicator increases from stronger output, rise in new orders

Manufacturing activity hit an 18-month high in October, a development that analysts said showed a consolidation of economic growth momentum for the fourth quarter.

The official manufacturing Purchasing Managers' Index rose to 51.4 in October from 51.1 in September, the fourth monthly gain in a row, the National Bureau of Statistics and the China Federation of Logistics and Purchasing said on Friday.