Factory activity in China shrank for the second-straight month in November. Lockdowns amid a new wave of coronavirus infections weighed on the economy.
The National Bureau of Statistics says the Purchasing Managers' Index, or PMI, for the manufacturing sector came to 48.
That's down by 1.2 points from October and below the 50 mark separating growth from contraction.
The figure is also the lowest level since April. Back then, pandemic fears triggered severe restrictions on people's movements in Shanghai.
The index is compiled from a survey of 3,200 companies.
The PMI for non-manufacturers, including restaurants and hotels, also stood below the 50 mark for the second month in a row. It fell 2 points to 46.7, logging the lowest level since April.
The government's "zero-COVID" measures are widely affecting the economy, including production, logistics, and consumer spending.
A series of large protests against the measures have erupted in several cities in recent days. Demonstrators say they are frustrated by the policy's impact on their everyday lives.
The National Bureau of Statistics says the Purchasing Managers' Index, or PMI, for the manufacturing sector came to 48.
That's down by 1.2 points from October and below the 50 mark separating growth from contraction.
The figure is also the lowest level since April. Back then, pandemic fears triggered severe restrictions on people's movements in Shanghai.
The index is compiled from a survey of 3,200 companies.
The PMI for non-manufacturers, including restaurants and hotels, also stood below the 50 mark for the second month in a row. It fell 2 points to 46.7, logging the lowest level since April.
The government's "zero-COVID" measures are widely affecting the economy, including production, logistics, and consumer spending.
A series of large protests against the measures have erupted in several cities in recent days. Demonstrators say they are frustrated by the policy's impact on their everyday lives.
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Summary
China's factory activity contracted for a second consecutive month in November due to coronavirus-induced lockdowns, as indicated by the Purchasing Managers' Index (PMI) for manufacturing falling below 50. The index dropped by 1.2 points from October to 48, reaching its lowest level since April.
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ID: 29156041-8240-4e60-bf46-cc7f3ad258f8
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221130_27/
Date: Nov. 30, 2022
Created: 2022/11/30 21:53
Updated: 2025/12/09 10:58
Last Read: 2022/11/30 21:57