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China's economic activity falls as Covid-19 cases surge to record

The economy is suffering increasing damage from tightened virus controls as Covid outbreaks spread in every province

china economy, china covid, china lockdown
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Photo: Bloomberg

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China’s factory and services activity contracted further in November as a record number of Covid cases prompted widespread movement curbs, further damaging the economy’s fragile outlook.
 
The official manufacturing purchasing managers index fell to 48 this month, the National Bureau of Statistics said on Wednesday, the lowest reading since April and worse than an estimate of 49 in a Bloomberg survey of economists.

The non-manufacturing index, which measures activity in the construction and services sectors, declined to 46.7 from 48.7 in October, also lower than the consensus estimate of 48. A reading below 50 indicates contraction, while anything above suggests expansion.

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First Published: Nov 30 2022 | 8:45 AM IST

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