Flash PMI for Oct brings cheer

Resilient labor market, robust export demand help weather realty downturn

A Chinese manufacturing gauge rose in October, adding to signs a resilient labor market and export demand are helping the world's second-largest economy weather a housing market downturn.

The preliminary Purchasing Managers' Index from HSBC Holdings Plc and Markit Economics was at 50.4, exceeding the median estimate of 50.2 in a Bloomberg News survey, which was also the level of September's final reading. Numbers above 50 indicate expansion.