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The Caixin China General Composite PMI rose to 51.9 in October 2024 from 50.3 in the prior month, marking the highest reading since June amid a rebound in factory activity and faster growth in the service sector after Beijing rolled out a series of policy measures in late September to bolster an economic turnaround. There was a renewed rise in new orders while unfinished work returned to growth after falling briefly in September. However, workforce capacity continued to shrink, primarily due to declining manufacturing headcounts. On prices, average input prices accelerated while selling prices rose for the first time in four months. Lastly, sentiment improved. "Achieving China’s 2024 growth target will depend on a sustained recovery in consumer demand, " said Dr. Wang Zhe, senior economist at Caixin Insight Group. "That means policy efforts should focus on increasing household disposable income.”