BEIJING : China’s factory activity expanded in January thanks to stable growth in output, quicker logistics and the first rise in new export orders since June, helping lift business confidence to a nine-month high, a private-sector survey showed on Thursday. The positive outturn, however, contrasted with an official survey on the previous day showing manufacturing activity contracted again last month due to persistently weak demand. Taken together, they point to a still-underperforming economy in need of more policy support. The Caixin/S&P Global manufacturing PMI stayed at 50.8 in January, unchanged from December and surpassing analysts’ forecasts of 50.6. The 50-point mark separates growth from contraction. “Quicker logistics, increased procurement, and rising inventories reflected improved business confidence,” said Wang Zhe, senior…
