October world factory activity expands slowly, stimulus still needed

LONDON/SYDNEY/NEW YORK (Reuters) - Global manufacturing activity increased last month at the same modest pace as in September, suggesting the need for continued economic policy stimulus, especially in Europe.JPMorgan's Global Manufacturing Purchasing Managers' Index, produced with Markit, held steady at 52.2 in October. The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia. Regional manufacturing surveys from Asia were littered with unwelcome landmarks, including a five-month low for activity in China, a four-month trough for South Korea and a 14-month low for Indonesia. A private Chinese factory survey by HSBC/Markit on Monday showed its manufacturing PMI edged up to 50.4 in October, from September's reading of 50.2.

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