China's September factory activity cools notably, Caixin PMI shows

China's manufacturing activity shrank sharply in September as new orders at home and abroad cooled, pulling down factory owners' confidence to near record lows, a private-sector survey showed on Monday. The Caixin/S&P Global manufacturing PMI fell to 49.3 in September from 50.4 the previous month, missing analysts' forecasts in a Reuters poll of 50.5. In an unusual September Politburo meeting focused on macroeconomic issues last week, China's top leaders acknowledged the economy was facing "new problems" and called for fresh policies to more "forcefully" stimulate growth.