China's factory activity shrinks for third time in four months in October, signaling weak domestic and export demand

China's factory activity contracted in October for the third time in four months, according to a government survey. The official manufacturing purchasing managers' index (PMI) fell to 49.3 from 50.1 in September, missing forecasts. This decline is attributed to soft domestic demand for goods and signs of weakness in exports, prompting economists to call for more government support to stimulate growth.