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Chinese factory activity in March shrank from February: it has been
weighed down by new rounds of outbreaks of COVID-19 and an uncertainty
brought by geopolitical conflicts, according to Zhao Qinghe, a senior
statistician from the National Bureau of Statistics (NBS).
The official manufacturing Purchasing Managers' Index (PMI) dropped to
49.5 from last month's 50.2, data from NBS showed on Thursday.
The official PMI missed Reuters' forecast of 49.8. A reading above 50
indicates an expansion, while a reading below reflects a contraction in
activities.
In addition, the official non-manufacturing PMI, which measures
activities in the construction and services sectors, also slid into
contraction territory at 48.4, decreasing by 3.2 percentage points from
February, according to the same data.
The official composite PMI, which includes both manufacturing and
services activities, stood at 48.8, dropping 2.4 percentage points from
last month.
Source: CGTN |
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