China’s Factory Activity Seen Contracting For Fifth Straight Month

https://www.oann.com/chinas-factory-activity-seen-contracting-for-fifth-straight-month-reuters-poll/

– China’s factory activity is expected to have contracted for a fifth straight month in September, a Reuters poll showed, adding to the country’s economic woes as Beijing remains locked in an escalating trade war with the United States.
The official Purchasing Managers’ Index (PMI) for September is expected to remain flat at 49.5 from August, according to the median forecasts of 22 economists, below the 50-point mark that separates expansion from contraction on a monthly basis.
The continued downturn in manufacturing activity points to further weakness in the world’s second-biggest economy, fuelling expectations the authorities will have to roll out more stimulus measures to avert a sharper slowdown.
There is significant risks to growth, given sluggish consumption, rising export pressures and restrained policy stimulus from the government so far. The central bank’s move to cut its new one-year benchmark lending rate for the second month in a row this month was seen as a response to poor data.


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