China Manufacturing and Services Slow in October on Weak Demand
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China's manufacturing sector contracted again in October amid weak demand, underscoring fragility of economy.
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Official manufacturing PMI dropped to 49.5 in October from 50.2 in September, missing analyst estimates.
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Non-manufacturing PMI fell to 50.6 in October, lowest since China lifted Covid restrictions.
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Drop reflects fewer working days in October and weak consumer spending, property crisis, global demand.
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Stimulus measures ramped up including infrastructure bonds, property easing, financial policy meeting to spur growth.