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China's manufacturing activity continues to fall

China's manufacturing activity continues to fall

Against the background of the ongoing coronavirus infection (COVID-19), the production activity of the world's second economy continues to decline. According to Reuters, in January of this year, China's economic decline slowed down compared to December 2022, but there is still a tendency for the incidence of coronavirus to increase. In addition, in January, the Chinese government lifted the regime of strict restrictions.

The second wave of infection has a higher rate, which directly affects the production stability of key segments of China.

According to official data, the business activity index (PMI) in the manufacturing sector of China rose in January to 49.8 compared to December (47.0). However, this indicator remains below the threshold of 50%, which indicates a reduction in business activity in general.

In addition to the lifting of strict restrictions, the "zero tolerance" policy for the virus and the celebration of the Lunar New Year, this month the epidemiological situation and the seasonal closure of the manufacturing sector can significantly affect China's labor productivity for the reporting January.

In addition to China's internal problems related to the coronavirus, Chinese exporters are still constrained by external factors related to the reduction of the order portfolio amid fears of a global recession.

These circumstances may soon affect the entire global economic space, due to a drop in China's demand for key raw materials positions of its main trading partners (Russia, the United States, India).

China's manufacturing activity continues to fall - Somehow!

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