China's factory activity unexpectedly expanded at the fastest pace in 19 mo...
BEIJING - China’s factory activity unexpectedly expanded at the fastest pace in 19 months in September as plants ramped up production and new orders rose, a private business survey showed on Monday,
The survey showed the acceleration was largely due to a rebound in domestic demand. New export orders for Chinese manufacturers, an indication of foreign demand, fell for the fourth straight month as a nearly 15-month trade war between the United States and China wears on. The government has been trying to spur domestic demand for over a year through higher infrastructure spending, but the measures have been slow to gain traction.
The National Statistics Bureau said on Friday that the world’s second-largest economy is being increasingly driven by domestic consumption, even as the trade war and softer global demand continues to weigh on exports. Still, policymakers are widely expected to unveil more monetary and fiscal support measures in coming months.
Despite the apparent pick-up in manufacturing activity in September, the survey showed businesses remained cautious.
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