World Economy

Growth Pressure Deepens

Growth Pressure DeepensGrowth Pressure Deepens

China’s manufacturing slowed further last month, as a property slump and slowdown in investment growth put the world’s second-largest economy on course for the slowest full-year growth since 1990. The government’s Purchasing Managers’ Index was at 50.8 in October, trailing the 51.2 median estimate of analysts in a Bloomberg News survey and compared with September’s 51.1. Readings above 50 indicate expansion. A pullback in manufacturing will test the government’s determination to refrain from broad stimulus. The economy expanded 7.3 percent in the third quarter from a year earlier, the weakest pace in more than five years.