China’s manufacturing growth declined further in October amid a slowing economy and languishing global demand, according to a survey released Saturday. The China Federation of Logistics and Purchasing said its purchasing managers’ index dropped by 0.3 from September to 50.8. The index is a 100-point scale on which any number above 50 indicates an expansion of manufacturing. The deceleration reflects a slowing of China’s economic growth to a five-year low of 7.3 percent in the third quarter of the year. “The small decline in the October PMI figure shows that economic growth still faces a certain amount of downward pressure,” federation analyst Zhang Liqun said in a report. Zhang said new government growth stabilizing policies unveiled in the third quarter were starting to have an effect in the real economy and would soon start to impact on PMI figures. “According to this forecast, PMI figures won’t […]