Economists say the improvement in both official and private gauges of factory activity is unlikely to mark a turnaround from the deepening slowdown in the industrial sector, as the world’s second-largest economy continues to struggle with sluggish global demand and hefty debt levels. China’s official manufacturing purchasing managers index rose to 49.8 in September from 49.5 in August, the National Bureau of Statistics said Monday. This is the fifth straight month that the index has stayed below the 50-mark, indicating a contraction in activity. The reading, however, was above the median forecast of 49.6 of 11 economists polled by The Wall Street Journal. A subindex measuring total new orders rose above the 50-mark for the first time since May as domestic demand increased. New export orders improved, but remained in contraction territory. “The rebounds in PMIs dovetailed with eased tension between the U.S. and China in their trade talks […]