China's factory activity contracts in October

China's factory activity unexpectedly contracted in October, a private survey showed on Wednesday, raising questions over the state of the country's fragile economic recovery at the start of the fourth quarter.

manufacturing purchasing managers' index on Tuesday, the survey suggested the manufacturing sector is still not on solid footing despite China's

New export orders for Chinese manufactured goods have shrunk for four consecutive months amid a relatively sluggish global economic climate."Overall, manufacturers were not in high spirits in October," said Wang Zhe, an economist at Caixin Insight Group. Lower production and relatively muted client demand weighed on purchasing activity, which shrank for the first time since July, while weaker-than-expected sales and the delayed shipment of goods led to the strongest rise in inventories of post-production items since September 2015.

Analysts at Goldman Sachs said in a Tuesday note that the labour market still showed signs of weakness in the third quarter as employment sub-indexes under various PMIs mostly declined in the quarter.

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