China corona crisis: industrial production is recovering more slowly

Volkswagen production in Shanghai

Renewed lockdown measures at global trading partners and rising domestic infections are depressing industrial demand in China.


(Photo: dpa)

Peking Chinese industry continued its recovery course from the pandemic more slowly in December than in the previous month. The official manufacturing purchasing managers’ index (PMI) fell to 51.9 from 52.1 in November, data from the national statistics bureau NBS showed on Thursday. Analysts polled by Reuters had expected a drop to 52.0. The 50-point mark separates growth from contraction on a monthly basis.

China’s huge industrial sector continued to bounce back from the slump following the coronavirus outbreak thanks to surprisingly strong exports. Renewed lockdown measures at global trading partners and increasing numbers of infections in Germany, however, depressed industrial demand.

More: The global economy is recovering from the corona shock – but only slowly

.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.