China’s factory activity unexpectedly shrinks in October, dents recovery momentum

News Snapshot:

Open this photo in gallery: Workers assemble mini excavators in a factory of heavy machinery in Suzhou in eastern China's Jiangsu province on Oct. 23.The Associated Press China’s manufacturing activity unexpectedly contracted in October, underlining the daunting task facing policymakers as they try to revitalize economic growth heading into the end of the year and 2024 amid multiple challenges at home and abroad. Recent indicators pointed to encouraging signs of stabilizing in the world’s second-largest economy, supported by a flurry of policy support measures, although a protracted property crisis and soft global demand remain major headwinds. The official purchasing managers’...