China's official manufacturing Purchasing Managers' Index (PMI) dropped to 49.5 in October from 50.2 in September, missing analysts' estimates and indicating contraction in the large manufacturing sector. New factory orders and employment declined in October, pointing to weaker demand and factories hiring fewer workers. Weaker consumer spending, ongoing property crisis, and soft global demand continue to pose challenges for China's economy. Beijing has rolled out additional stimulus measures, including bond issuances for infrastructure and eased property restrictions to boost growth.