China October manufacturing contracts at slower pace

China's economy expanded 6.9% in the July-September 2015 period, the slowest pace since the aftermath of the global financial crisis in 2009, according to official dataChina’s manufacturing activity shrank again in October but the rate of decline in the world’s second-largest economy improved, an independent survey showed on Monday. Chinese growth is slowing and media group Caixin said domestic demand continued to fall, although new export business improved. “The slight upswing shows the manufacturing industry’s overall weakening has slowed down, indicating that previous stimulating measures have begun to take effect,” He Fan, an economist at Caixin Insight Group, said in the statement.

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