Tag: PMI

China manufacturing activity rebounds in January

BEIJING, China (AFP) — China’s factory activity expanded in January after four months of contraction, official data showed Tuesday, as its economy rebounded following the relaxation of strict Covid-19 curbs. The world’s second-largest economy is roaring back to life after Beijing’s decision last month to abruptly drop its strict zero-Covid policy, which mandated strict lockdowns, sparking protests and hammering businesses. The official manufacturing purchasing managers’ index (PMI) — a key gauge of Chinese factory output […]

China manufacturing contracts in July: govt

BEIJING, China (AFP) — China’s manufacturing shrank in July, the government said Monday, blaming the deterioration on rainstorms that wreaked havoc across large swathes of the country. It was the first time since February the official purchasing managers’ index (PMI) showed contraction, and according to a Bloomberg News survey it missed economists’ expectations it would flatline. The official PMI came in at 49.9 for July, down from 50.0 the month before and underlining problems in […]