China factory activity shrinks for seventh month amid export order slump

China’s official manufacturing purchasing managers’ index fell to 49.0 in October — its lowest in six months — marking a seventh straight month of contraction as export orders dried up. National Bureau of Statistics of China data also showed non-manufacturing activity barely above the growth threshold. Analysts say China’s economy is struggling to transition away from export-led growth toward domestic demand, and policymakers may need fresh stimulus to hit year-end targets.