China Stimulus Gives Manufacturing a Shot in the Arm
- Factory activity beats estimates in sign of confidence
- Residential property sales see first monthly rise in 2024
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China’s first major economic indicators after authorities unveiled their recent stimulus push suggest the economy has stabilized somewhat, with manufacturing and housing sectors showing tentative signs of recovery.
Both official and private measures of factory activity in October exceeded analyst expectations, while home sales saw their first rise this year. The data were the first to capture a full month’s activity following Beijing’s largest efforts to boost the economy since the pandemic.