China’s Caixin PMI Drop Adds to Signs of Economic Fragility
- Survey mirrors official gauge showing factory activity shrank
- Economists say weak data reinforces case for more stimulus
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China’s manufacturing activity unexpectedly shrank in October, according to a private survey, signaling that the economic recovery is losing momentum and pressuring policymakers who are trying to shore up growth.
The Caixin manufacturing purchasing managers’ index fell to 49.5 from 50.6 in September, missing economists’ forecast of 50.8. The 50 line separates expansion from contraction.