Caixin
Nov 30, 2022 03:20 PM
ECONOMY

China Economic Activity Falls as Covid Cases Surge to Record

Residents line up at a Covid-19 testing booth in Beijing on Nov. 14. Photo: Bloomberg
Residents line up at a Covid-19 testing booth in Beijing on Nov. 14. Photo: Bloomberg

(Bloomberg) — China’s economic activity contracted further in November amid a record Covid outbreak, with growth likely to remain weak and the central bank expected to add more stimulus to bolster the recovery. 

The official manufacturing purchasing managers index fell to 48 this month, the National Bureau of Statistics (NBS) said on Wednesday, the lowest reading since April and worse than an estimate of 49 in a Bloomberg survey of economists.

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