China’s economic activity expands for the first time in months as Covid ‘exit wave’ ends

China’s economic activity expands for the first time in months as Covid ‘exit wave’ ends

09:37 - Source: CNN

Hong Kong

CNN

 -

Economic activity in China expanded for the first time in four months, as the disruptions caused by the sudden end of the novel coronavirus campaign appeared to be fading.

The official Purchasing Managers' Index (PMI) for manufacturing, which measures activity in factories, jumped to 50.1 in January from 47 in December, according to the National Bureau of Statistics.

This is the first time the scale has crossed the 50-point mark since September. A reading above 50 indicates expansion, while anything below this level shows contraction. 

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