China'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.
Economists said the faster-than-forecast "exit wave" of COVID-19 infections suggests that the worst of the economic slump has passed. They expect the world's second-largest economy to rebound in the first and second quarters, although long-term issues in the property sector and weakening external demand will drag on the growth outlook.
In particular, companies said staff resignations and absences due to COVID infections weighed on headcount, while insufficient staffing contributed to a renewed upturn in backlogs of work.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
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
Leer más »
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
Leer más »
Covid in China: Officials say current wave is 'coming to an end'Authorities say the death toll has peaked, and there's been no case spike during Lunar New Year.
Leer más »
China says COVID situation at 'low level' after holidayChina said on Monday that the COVID-19 situation in the country was at a 'low level', and that fever clinic visits due to the coronavirus during the Lunar New Year dropped about 40% from before the week-long holiday
Leer más »
Covid Hits China’s Rural Poor: ‘The Impact on the Village Economy Is Huge’In China, economic anxiety is trumping fear of Covid-19 for many in the countryside, as the urban-rural income gap keeps widening.
Leer más »
China's industrial profits contract in 2022 on COVID woesProfits at China's industrial firms fell 4% in 2022 from a year earlier, official data showed on Tuesday, squeezed by the impact of strict COVID-19 curbs, but an expected economic recovery this year is likely to revive the sector's sales and earnings.
Leer más »