China's factory activity develops when Shanghai revived| MENAFN.COM

Sunday, 07 August 2022 10:31 GMT

China's factory activity develops when Shanghai revived


(MENAFN) China's manufacturing activity developed this month when anti-virus measures that close Shanghai and other industrial centers were stopped, in line with a survey.

The monthly acquiring managers’ index issued by the national figures bureau and an industry group increased to 50.2 from May’s 49.6 on a 100-point scale on which numbers more than 50 show development of activity.

The survey presented employment and new orders agreed to in May but at a relaxed rate.

Predictors anticipate economic expansion for the quarter ending in June to reach zero following Shanghai and other industrial centers were closed to curb coronavirus epidemics. Factories, offices and shops were permitted to revive but economists state it might need months to return to normal activities.

The latest data show "full recovery will take some time,” as written by Iris Pang of ING in a report.

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