China’s factory and service sectors slip as calls for stimulus measures increase

BEIJING –

Factory activity in China fell for a fifth straight month in September, while the services sector slowed sharply, suggesting that even more stimulus is needed to meet Beijing’s 2024 growth target just three months into the year.

The Bureau of National Statistics’ (NBS) Purchasing Managers’ Index (PMI), released on Monday, rose to 49.8 in September from 49.1 in August, still below the 50-point divide between growth and contraction, but above the median forecast of 49.5 in Reuters poll.

The reading was the highest in five months.