China’s factory activity slumped for the longest streak in more than nine years, prompting fresh calls for greater policy support even as the country reached a trade truce with the US.
The official manufacturing purchasing managers’ index fell more than expected to 49 in October, suggesting activity dropped the most in six months just before a leaders’ meeting stabilized ties this week. New orders shrank the most since 2023 as demand took a hit from trade barriers and weak sentiment at home.