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China manufacturing
EconomyChina Economy

Coronavirus: China manufacturing sentiment trails world’s major economies amid lockdowns

  • China had the lowest manufacturing purchasing managers’ index level among 22 major economies in April
  • The reading once again puts the spotlight on the economic damage caused by Beijing’s zero-Covid policy

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Activity in both China’s manufacturing and services sectors fell to the lowest point in more than two years in April. Photo: AFP
Orange Wang

Manufacturing sentiment in China was the worst among the world’s major economies in April, as the government refuses to budge from its zero-Covid policy and geopolitical tensions cloud the growth outlook.

The state-affiliated China Federation of Logistics & Purchasing (CFLP) on Friday published a table of the manufacturing purchasing managers’ index (PMI) in 21 major economies for last month.

Though China was not on the list, its April reading was worse than any of those countries that were – including Russia, which has been hit by Western sanctions following its invasion of Ukraine.
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China’s official manufacturing PMI fell to 47.4, from 49.5 in March, according to the National Bureau of Statistics, whereas Russia’s reading was 48.2.

A reading above 50 indicates an expansion in production, while a reading below indicates contraction.

03:02

Shanghai residents under Covid lockdown protest against lack of food

Shanghai residents under Covid lockdown protest against lack of food

“Impacted by sporadic and frequent outbreaks and international geopolitical clashes in April, Chinese manufacturing has faced downward pressure and a slower growth rate, dragging down the growth rate of Asia’s manufacturing sector,” said the CFLP in a statement on Friday.

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