Chinese manufacturing and service activity contracted at the same time in March for The first time since 2020, official The data showed Thursday, as the worst outbreak of COVID-19 in the country in After two years of closing and closing factories for Shanghai and two other industrial centers.
The world’s second-Larger economy accelerator up in January February, with Some key pointers blowing past Expectations but now in risk of Sharp slowdown as authorities restrict production and movement in corona virus disease-hit Cities, including Shanghai and Shenzhen.
Monthly Purchasing Managers’ Index (PMI) of China Statistics and Industry Agency groupthe Federation of China of Logistics and Purchasing decreased to 49.5 from 50.2 in February on Scale of 100 points. Prepare below 50 show Activity contract.
Sub-indicators of new request #%s, new Export orders, labor, production and business all expectations declinedsaid the report.
The last Time were both PMIs simultaneously below The 50-point mark separating the contraction from growth I was in February 2020, when the authorities were racing to arrest Spread of corona virus, first discoverer in Central China city of Wuhan.
Even if the outbreak is brought under control soonIt will take some time for The economy Obtain back on Track, Julian Evans-Pritchard of Capital Economics said in a report.
Most companies in Shanghai, China’s most populous cityhas ordered its closure during millions of people are tested for virus.
Arrival in Changchun and Jilin in The Northeast region has been suspended, forcing automakers and other factories to do so shut down. restrictions also imposed on Some small towns.
“Recently, there have been cluster outbreaks in many places in China,” NBS senior statistician Zhao Qingyi said in Thursday statement.
“Paired” with A significant increase in international Geopolitical instability, production and operational activities of Chinese companies have been affected.” added.
For weeks, China recorded thousands of Virus cases every day, after nearly two years of Virtually eliminates casualties within its borders. I triggered it”zeroCorona virus disease strategy.
Some companies temporarily reduced Or stop production due to of COVID-19, which also hit Logistic flows.
Non-manufacturing PMI also It fell to 48.4 from 51.6 with Significantly the service industry hit by virus outbreak.
Nomura Chief Chinese Economist Lu Ting expects PMIs to reach drop in addition to “on Escalation of closures and social distancing measures.
Beijing design in Taking good care of zero- Covid-19 strategy for It is very likely that fighting the infectious omicron variant will deal a severe blow to the Chinese economy,” he told AFP.
Chinese manufacturing and service activity contracted at the same time in March for The first time since 2020, official The data showed Thursday, as the worst outbreak of COVID-19 in the country in After two years of closing and closing factories for Shanghai and two other industrial centers.
The world’s second-Larger economy accelerator up in January February, with Some key pointers blowing past Expectations but now in risk of Sharp slowdown as authorities restrict production and movement in corona virus disease-hit Cities, including Shanghai and Shenzhen.
Monthly Purchasing Managers’ Index (PMI) of China Statistics and Industry Agency groupthe Federation of China of Logistics and Purchasing decreased to 49.5 from 50.2 in February on Scale of 100 points. Prepare below 50 show Activity contract.
Sub-indicators of new request #%s, new Export orders, labor, production and business all expectations declinedsaid the report.
The last Time were both PMIs simultaneously below The 50-point mark separating the contraction from growth I was in February 2020, when the authorities were racing to arrest Spread of corona virus, first discoverer in Central China city of Wuhan.
Even if the outbreak is brought under control soonIt will take some time for The economy Obtain back on Track, Julian Evans-Pritchard of Capital Economics said in a report.
Most companies in Shanghai, China’s most populous cityhas ordered its closure during millions of people are tested for virus.
Arrival in Changchun and Jilin in The Northeast region has been suspended, forcing automakers and other factories to do so shut down. restrictions also imposed on Some small towns.
“Recently, there have been cluster outbreaks in many places in China,” NBS senior statistician Zhao Qingyi said in Thursday statement.
“Paired” with A significant increase in international Geopolitical instability, production and operational activities of Chinese companies have been affected.” added.
For weeks, China recorded thousands of Virus cases every day, after nearly two years of Virtually eliminates casualties within its borders. I triggered it”zeroCorona virus disease strategy.
Some companies temporarily reduced Or stop production due to of COVID-19, which also hit Logistic flows.
Non-manufacturing PMI also It fell to 48.4 from 51.6 with Significantly the service industry hit by virus outbreak.
Nomura Chief Chinese Economist Lu Ting expects PMIs to reach drop in addition to “on Escalation of closures and social distancing measures.
Beijing design in Taking good care of zero- Covid-19 strategy for It is very likely that fighting the infectious omicron variant will deal a severe blow to the Chinese economy,” he told AFP.