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News in English (USA) / 30.09.2024 / 05:00

China's Economic Indicators Show Mixed Results Amid Continued Manufacturing Contraction

China's stock market saw a significant rally of 4% despite ongoing concerns about the country's manufacturing sector, which has contracted for the fifth consecutive month according to various indicators. September's manufacturing activity was reported to cool notably, with the Caixin Manufacturing PMI dropping to 49.3, signaling a continued weakening of the economy. The official manufacturing PMI also reflected a slight increase to 49.8, outpacing expectations of 49.5, but still indicating a contraction. Meanwhile, the non-manufacturing PMI fell to 50.3, suggesting stagnation in services. Analysts are raising calls for stimulus as both factory and service sectors show signs of distress. Despite mixed messages about marginal improvements, the overall sentiment remains cautious as economic recovery looks to be sluggish.
CNBC, Financial Times, Bloomberg, South China Morning Post, The Wall Street Journal, AASTOCKS.com, U.S News & World Report Money, Nikkei Asia, FXStreet, Xinhua