Chinese manufacturing weakens, adding to economic pressure

BEIJING (AP) — An official survey shows Chinese manufacturing weakened in October. That adds to downward pressure on the economy as the ruling Communist Party tries to reverse a slowdown. A monthly purchasing managers’ index by the national statistics agency and an official industry group declined to 49.2 from September’s 50.1 on a 100-point scale on which numbers below 50 indicate activity contracting. Measures of production, new orders and employment declined. The reading was in line with forecasts that China’s economic growth would weaken in late 2022 as global demand for exports cooled and repeated shutdowns of Chinese cities to fight virus outbreaks weigh on consumer spending.