Factory activity surveys in China pointed to slight improvement in September as ...
BEIJING - Factory activity surveys in China pointed to slight improvement in September as domestic demand picked up, but analysts believe the gains will be short-lived as the property market cools and Sino-U.S. trade tensions remain elevated.
But economists cautioned the rebound is likely be unsustainable, and forecast further economic weakness ahead. Total new orders, including those from home and abroad, did swing back to growth in September for the first time in five months, the official PMI showed, but the expansion was marginal. “With a slew of growth-boosting policy measures kicking in, optimism among manufacturing firms... reached 54.4, the highest in the third quarter,” said Zhao.
The Peoples’ Bank of China has lowered banks’ reserve requirements seven times since early 2018 to free up more funds for lending. China also trimmed its new benchmark lending rate in September for the second month in a row.
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