China's factory activity likely shrank in March, a Reuters poll showed, as the country imposed more mass testing and activity controls amid its worst resurgence of COVID-19 cases since early 2020.
The official manufacturing Purchasing Managers' Index is expected to have eased to 49.9 in March, the lowest reading in five months, from 50.2 in February, according to the median forecast of 36 economists polled by Reuters on Wednesday.
Following unexpectedly upbeat economic activity data from the National Bureau of Statistics for January and February, analysts warned March data may broadly worsen. The latest COVID-19 resurgence has brought about lockdowns in financial centre Shanghai and shutdowns in the tech hub of Shenzhen in March. Changchun, capital of the virus-hit northeastern province Jilin, has completed more than 10 rounds of citywide testing of its residents so far.
With the economy suffering from virus outbreaks and facing such headwinds as uncertain future market effects of the Ukraine conflict, the government has pledged a slew of policies aimed at supporting small firms.
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