FirstFT: China’s manufacturing activity slows down
Global Economic Update
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One of the most important measures of China’s manufacturing activity Already signed This is the first time since the early stages of the coronavirus pandemic, as measures to contain the recent outbreak have put pressure on an already fragile economic background.
The Caixin Manufacturing Purchasing Managers Index is an independent survey of factory activities. It was 49.2 in August, below the 50 mark. This is the first time since April 2020 to separate monthly expansion from contraction.
The data was released a day after the official PMI manufacturing data was released, and the data was slightly below the contraction to 50.1, which is the lowest level since February last year. As the recent outbreak of Covid-19 has put pressure on activities, indicators in the service industry have fallen into negative values.
These indexes are one of the most obvious signs that the Chinese economy has lost momentum. In the context of industry-driven recovery, the Chinese economy performed better than other large economies last year. But China is now struggling to cope with weak export demand, high raw material prices and a slowdown in the real estate industry.
Is your industry feeling the impact of the proliferation of Delta variants?Let me know [email protected]. Thank you for reading FirstFT Asia. -Emily
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