BEIJING : China's economic activity swung back to growth in January, official data showed on Tuesday, after a wave of COVID-19 infection passed through the country faster than expected following abandonment of pandemic controls.The official purchasing managers' index (PMI), which measures manufacturing ac
BEIJING : China's economic activity swung back to growth in January, official data showed on Tuesday, after a wave of COVID-19 infection passed through the country faster than expected following abandonment of pandemic controls.
Non-manufacturing activity, which includes provision of services, the construction industry and catering, for example, surged to 54.4, up from 41.6 in December.The data is one of the first NBS indicators of how the economy has managed since the end of China's zero-COVID regime and during a week-long Lunar New Year that ended on Friday.
Lunar New Year consumption was 12.2 per cent higher than in last year's holiday period, while holiday trips inside China surged 74 per cent, as people headed out to celebrate for the first time in three years without COVID-19 restrictions.
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