China appears to be making more of its own components. The monthly China Federation of Logistics and Purchasing survey showed expectations for imports fell to 49.9 from 50.4 in September, indicating lower import orders ahead. With the total manufacturing gauge rising further into positive territory, and above economists expectations, it appears manufacturers are favoring local suppliers over those in Japan and Taiwan. A cut in the export outlook back into negative territory may simply be the result of South Korean manufacturing issues.
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