BEIJING (Reuters) -China’s factory activity in October expanded at a slower pace as new orders and output both waned amid tariff anxiety, a private-sector survey showed on Monday.

The RatingDog China General Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, dropped to 50.6 in October from 51.2 in September, missing analysts’ expectations of 50.9 in a Reuters poll. The 50-mark separates growth from contraction.

“Among the sub-indices, only employment showed a positive month-on-month change, while all other indicators declined to varying degrees,” said Yao Yu, founder of RatingDog.

The survey was taken when U.S. President Donald Trump had threatened to impose 100% tariffs on Chinese goods.

However, he has since agreed with China’s President Xi Jinping on Thursday to

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