China's economy continues to struggle on Covid curbs, property woes

China's fragile economic recovery has been challenged this year by the country's adherence to Covid Zero, a policy intended to stamp out infections that has caused intermittent turmoil to supply chain

Chinese Economy (Photo: Bloomberg)

Demand from overseas for Chinese goods is also moderating: A gauge of new export orders in the official PMI fell to 47, the lowest in four months (Photo: Bloomberg)

China’s factory activity continued to struggle in September, while services slowed, as the country’s economic recovery was challenged by lockdowns in major cities and an ongoing property market downturn.
The official manufacturing purchasing managers index rose to 50.1 from 49.4 in August, according to a statement from the National Bureau of Statistics on Friday. That compared with the median estimate of 49.7 in a Bloomberg survey of economists. Any figure higher than 50 indicates expansion. 

The non-manufacturing gauge, which measures activity in the construction and services sectors, fell to 50.6 from 52.6 in August. That was lower than the consensus estimate

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First Published: Sep 30 2022 | 9:14 AM IST

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