Official data showed today, Tuesday, that industrial activity in China increased in January after a four-month decline, with the Chinese economy recovering from the easing of strict Covid-related restrictions.
According to the National Bureau of Statistics, the official manufacturing purchasing managers’ index, the leading indicator of output in the world’s second-largest economy, rose to 50.1 from 47 in December.
The numbers broke the continuous decline since September and topped 50 points.
The non-manufacturing PMI, which includes services and construction, rose to 54.4 in January from 41.6 in December.
Last month, Beijing abruptly abandoned its “zero Covid” policy aimed at curbing the spread of the Corona virus, which included strict shutdowns, sparking unprecedented protests and disrupting businesses in the country.
China’s economy grew just 3% last year at its slowest pace in four decades as Covid restrictions and a housing crisis crippled the economy.
