China's factory activity unexpectedly expanded at the fastest pace in well ...
BEIJING - China’s factory activity unexpectedly expanded at the fastest pace in well over two years in October as new export orders rose and plants ramped up production, a private business survey showed on Friday.
The 50-mark separates expansion from contraction on a monthly basis. The pace of improvement in September was the quickest seen since February 2017, when it was also 51.7. This was likely due to the United States choosing to temporarily exempt more than 400 types of Chinese products from additional tariffs in September, Zhong said.
The better-than-expected results stand in contrast with an official survey published on Thursday, which showed China’s factory activity shrank for the sixth straight month in October. The ruling Communist Party’s People’s Daily said on Thursday that stabilizing growth should be made more of a priority. The commentary called for expanding investment in infrastructure where it is needed.
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