China’s factory and services activity loses steam ...News

Russia Today - Economy
China’s factory and services activity loses steam
source : Russia Today ( News ) () 29
Beijing’s zero-Covid policies are curbing production and disrupting supply chains Widespread lockdowns introduced by the Chinese authorities to tackle the latest surge in Covid-19 cases have dragged down China’s April manufacturing and services activity. The official manufacturing purchasing managers’ index (PMI) fell to 47.4 this month from 49.5 in March, according to data published by the National Bureau of Statistics on Saturday. PMI above 50 indicates growth, while anything below this level represents contraction. The March figure was slightly above the median forecast of a Bloomberg survey of analysts, which

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