China's Economy Shows Signs of Recovery, Manufacturing Activity Expands
China's factory activity expanded in September, with the purchasing managers' index (PMI) rising to 50.2, indicating a return to expansion after six months of contraction. This adds to signs of stabilisation in the economy, which had slowed down after COVID-19 restrictions were lifted. The non-manufacturing PMI also rose, and the composite PMI, which includes both manufacturing and non-manufacturing activity, climbed to 52.0. However, the property sector remains a concern, with falling home prices and declining property investment. More policy support may be needed to achieve the government's growth target of about 5% this year.