China factory activity expands as consumption and investment remain weak
China's official manufacturing PMI rose to 50.1 in September from 49.8, ending two months of contraction, with the new orders sub-index at 50.5 and production at 51.7; a private survey showed manufacturing at 52.1. The non-manufacturing PMI improved to 50.2 from 49.0. The data highlight an export- and industry-led recovery, with the goods trade surplus on track to exceed $1 trillion again, while weak consumption, investment and a prolonged property downturn are weighing on confidence. Authorities unveiled measures to steer cheaper credit to infrastructure, technology and home buyers and may provide further policy support.
Manufacturing PMI rose to 50.1, but domestic demand remains weak
Context
Factories restarted after weather disruptions eased and global AI demand rose.…
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