China’s Economy Shows Strong Recovery as ‘Zero-Covid’ Era Ends

Workers sew clothing on Feb. 9 at a garment factory in Guangzhou, South China’s Guangdong province. Photo: Bloomberg

(Bloomberg) — China’s economy is showing signs of a stronger rebound after Covid restrictions were abandoned, with manufacturing posting its biggest improvement in more than a decade, services activity climbing and the housing market stabilizing.

The manufacturing purchasing managers’ index rose to 52.6 last month, the National Bureau of Statistics said Wednesday, the highest reading since April 2012. A non-manufacturing gauge measuring activity in both the services and construction sectors improved to 56.3. Both indexes beat economists’ expectations.