Just Earth News | @justearthnews | 01 Apr 2022, 09:06 am Print
China COVID19 Uncertainties Representational image by Thi Nguyen via Wikimedia Commons
Beijing: The factory activities in China, a country witnessing a surge in COVID-19 cases, likely shrank in March, media reports said on Friday.
The purchasing managers' index (PMI) for China's manufacturing sector has eased to 49.5 in March from 50.2 in February, data from the National Bureau of Statistics (NBS) showed Thursday, reports Xinhua news agency.
A reading above 50 indicates expansion, while a reading below reflects contraction, the news agency reported.
Clusters of epidemic outbreaks across the nation, along with rising global geopolitical uncertainties, have affected the production and operation of enterprises, NBS senior statistician Zhao Qinghe told Xinhua.
- Automobile giant Tesla likely to remove 10 percent of its workforce
- Crypto market tanks amid Middle East crisis
- Elon Musk's Tesla inks strategic deal with India's Tata Electronics to procure semi-conductor chips
- Apple plans to reduce 614 workers in California
- Tech major Apple to open its new Shanghai store on Thursday
