China's trade slump likely eased further in October - Reuters poll
© Reuters. FILE PHOTO: An employee works on the production line of a robot vacuum cleaner factory of Matsutek in Shenzhen, China August 9, 2019. REUTERS/Jason Lee/File Photo/File Photo
Recent economic indicators suggest the policy support measures introduced since June to shore up economic growth are beginning to take effect, although China's manufacturing activity unexpectedly contracted again last month. Both new export and import orders shrank for an eighth consecutive month in October, a sub-index in the official purchasing managers' index survey showed, suggesting that manufacturers are still struggling for buyers overseas and ordering fewer components used in finished goods for re-export., reported falling demand in October as it dropped to its lowest rate since December 2020, owing to congestion in North American and European ports.
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