China's factory activity shrank more slowly in January than in the previous month thanks to the end of the country's zero-COVID policy, though infections among workers still hampered production, a private sector survey showed on Wednesday.
Economists said the worst of the economic slump that followed abandonment of zero-COVID in early December seemed to have passed, because the associated wave of COVID-19 infections had been unexpectedly fast.
Analysts have said the economy, the world's second-largest, will rebound in the first and second quarters, although long-term problems in the property sector and weakening external demand will be a drag on growth. Companies said employee resignations or absences due to COVID infection contributed to a rise in work backlogs.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Jan factory activity contracts at slower pace amid COVID infections - Caixin PMIChina's factory activity shrank more slowly in January after Beijing lifted tough COVID curbs late last year which helped ease pressure on manufacturers though infections among workers hampered production, a private sector survey showed on Wednesday.
Read more »
China's Caixin Manufacturing PMI improves slightly to 49.2 in January vs. 49.5 expectedChina's Caixin Manufacturing PMI for January rises slightly to 49.2 vs. 49.5 expected and 49.0 previous, showing the positive impact of the country’s
Read more »
USD/CNH rebounds above 6.7500 despite Caixin Manufacturing PMI misses estimatesThe USD/CNH pair has shown sheer volatility after the IHS Markit reported a lower-than-anticipated Caixin Manufacturing PMI data. The asset dropped to
Read more »
NZD/USD edges lower past 0.6500 with eyes on China PMI, US CB Consumer ConfidenceNZD/USD edges lower past 0.6500 with eyes on China PMI, US CB Consumer Confidence – by anilpanchal7 NZDUSD RiskAppetite PMI ConsumerConfidence Fed
Read more »
NZD/USD struggles to justify upbeat China PMI below 0.6500 as risk profile remains sluggishNZD/USD struggles to justify upbeat China PMI below 0.6500 as risk profile remains sluggish – by anilpanchal7 NZDUSD PMI RiskAppetite Fed Currencies
Read more »
USD/CNH displays volatile moves below 6.7600 on upbeat China’s official PMIThe USD/CNH pair is displaying wild gyrations as China’s National Bureau of Statistics (NBS) has reported upbeat official PMI data. The Official Manuf
Read more »