China's factory activity shrank at a sharper pace in December as surging Covid-19 infections disrupted production and weighed on demand after Beijing largely removed anti-virus curbs, a private sector survey showed today.
The Caixin/Markit manufacturing purchasing managers' index fell to 49.0 in December from 49.4 in November. The index has stayed below the 50-point that separates growth from contraction for five straight months.China's larger official PMI survey on Saturday showed a much sharper decline, with the activity index falling to a near three-year low. The Caixin survey focuses on smaller, export-oriented firms.
Weakening external demand amid slowing global growth continued to drag on orders for export-oriented producers, with the Caixin sub-index of new export orders shrinking at the fastest pace since September. Some analysts anticipate labour shortages and increased supply chain disruptions, combined with softer customer demand, may drive a further fall in production in winter months, even if mobility curbs are eased.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada and Australia impose Covid rules on travellers from ChinaChina is battling a nationwide outbreak of coronavirus after abruptly easing restrictions that had been in place for much of the pandemic.
Read more »
Australia demand negative Covid test for China arrivalsAustralia became the latest country to demand travellers from China provide a negative Covid-19 test before arrival, citing a 'lack of comprehensive information' from Beijing about the country's wave of cases
Read more »
France latest to impose Covid-19 tests amid China variant fearsAirline passengers to be screened amid concern China is not reporting data about its coronavirus surge
Read more »
Broadband rollout gathers pace with 100,000 homes ready to be connectedNational Broadband Ireland has connected more than 3,000 homes since December
Read more »
Teenager remanded in custody following serious Cork assault over Christmas periodVictim remains critical in hospital following assault by two men in Carrigaline on December 28th
Read more »
Short-term letting rules were 'destined to fail' after only 50 planning permissions grantedNew figures from the Department of Housing show that short-term let planning permission was granted for only 50 properties between 2019 and 2022
Read more »