China manufacturing grows weakly in February

By AP News

Share:

BEIJING (AP) — Chinese manufacturing activity grew weakly in February, hampered by supply disruptions, anti-virus controls and lackluster global demand, two surveys showed Tuesday.

BEIJING (AP) — Chinese manufacturing activity grew weakly in February, hampered by supply disruptions, anti-virus controls and lackluster global demand, two surveys showed Tuesday.

A purchasing managers' index issued by a Chinese business magazine, Caixin, improved to 50.4 from January's 49.1 on a 100-point scale on which numbers above 50 show activity increasing. A separate PMI issued by the Chinese statistics agency and an industry group edged up to 50.2 from 50.1.

Both surveys showed production accelerating while export orders contracted.

“The job market remained under high pressure," said economist Wang Zhe of Caixin in a statement. “And we still need to keep an eye on inflationary pressure."

Official “zero tolerance” anti-disease measures starting in December have disrupted manufacturing and consumer spending. They have imposed restrictions as severe as confining families to their homes in areas with a total of as many as 20 million people.

Share:

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for VTM Updates

Form submitted successfully!

Top Picks for Q2 2022

View More

Crypto Corner

Learn your NFTs from your BTCs