China's manufacturing activity drops despite lifted Covid restrictions

Beijing (AFP) Dec 31, 2022

China's manufacturing activity contracted sharply in December for the third month in a row, according to official figures released Saturday, despite Beijing's loosening of Covid restrictions at the beginning of the month. The Purchasing Managers' Index (PMI) - a key gauge of manufacturing in the world's second-biggest economy - came in at 47 points, down from November's 48 and well below t