BEIJING :China's factory activity in January is expected to have contracted more slowly than in December, a Reuters poll showed on Monday, with production hampered as workers continued to fall sick after the government dismantled its 'zero-COVID' regime.'While the 'exit wave' of infections passed through the
BEIJING :China's factory activity in January is expected to have contracted more slowly than in December, a Reuters poll showed on Monday, with production hampered as workers continued to fall sick after the government dismantled its"zero-COVID" regime."
The official manufacturing purchasing managers' index improved to 49.8 in January, compared with 47.0 in December, according to the median forecast of 25 economists polled by Reuters, reversing a downward trend running from September, but falling shy of breaking back into expansion territory. The data is one of the first indicators from the National Bureau of Statistics of how the economy has managed following the end of China's"zero-COVID" regime and over the week-long Lunar New Year festival, that ended on Friday. Many manufacturers had raised concerns that COVID infections among their workforce and seasonal factory closures would significantly impact industrial productivity for the month.
"Early signs suggest that conditions improved in January," according to a note from Capital Economics,"and any lingering supply-side issues will matter less at a time of year when factories wind down production in any case," they added while forecasting a PMI reading of 50.0.
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China's factory activity likely contracted more slowly in January: Reuters pollBEIJING : China's factory activity in January is expected to have contracted more slowly than in December, a Reuters poll showed on Monday, with production hampered by many workers falling sick after the government dismantled its 'zero-COVID' controls.The official manufacturing purchasing managers' index
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