China's factory activity in September shrank for a fifth straight month while the services sector sharply slowed, suggesting even more stimulus is needed to hit Beijing's 2024 growth target with only three months left in the year.
The National Bureau of Statistics (NBS) purchasing managers' index (PMI) released on Monday nudged up to 49.8 in September from 49.1 in August, still below the 50-mark separating growth from contraction but beating a median forecast of 49.5 in a Reuters poll.
The reading was the highest in five months.
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