China Economy Picks Up on Stimulus Push Ahead of US Election
- Stimulus defies seasonal pressure to boost growth momentum
- Still-weak new export orders weigh on manufacturing sector
WATCH: Credit Agricole’s Xiaojia Zhi says China’s October PMI is “encouraging.”
Source: BloombergThis article is for subscribers only.
China’s economy showed signs of stabilizing after Beijing unleashed the boldest stimulus measures since the pandemic, although an upcoming US election injects uncertainty into the recovery.
Factory activity unexpectedly expanded in October after five months of contraction, the National Bureau of Statistics said Thursday. The official manufacturing purchasing managers’ index rose to 50.1, higher than a forecast of 49.9 by economists. The non-manufacturing PMI showed activity in construction and services expanded after staying little changed the previous month.