China's factory activity resumes growth in September
Factory activity in China returned to growth in September after two months of contraction, with the manufacturing Purchasing Managers' Index (PMI) rising to 50.1 points compared to 49.8 in August. This increase was driven by a rebound in manufacturing sectors for equipment, technology, and consumer industries. The non-manufacturing services index also increased to 50.2, supported by improved activity in the construction sector, although domestic demand remains weak and rising energy costs continue to pressure profit margins. Government stimulus is leading the growth, despite ongoing challenges such as weak demand and high costs.
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