China’s manufacturing activity has fallen to a six-month low.
China’s manufacturing activities in April fell to a six-month low due to strict lockdowns imposed in China’s major manufacturing hub Shanghai and other cities to control the Kovid-19 epidemic.
China (China) The Kovid-19 Pandemic in Shanghai and Other Cities’ Major Manufacturing Centers ,Covid-19 Pandemic, Strict lockdown imposed to overcome (lockdown) Since April, China’s manufacturing activities have come down to a six-month low. China’s National Statistical Bureau released the monthly Purchase Managers Index on Saturday, saying that the index has fallen to 47.4 in April, from 49.5 on a 100-point scale in March. Manufacturing index below 50 (Manufacturing) Shows contraction in activities. Bureau of statistician Zhao Qing said that the outbreak of the epidemic has affected the activities of China’s factories and market demand.
He said that some companies have reduced or stopped production due to logistics as well as supply disruptions.
Lockdown in Shanghai for the whole of April
The lockdown has been in force for the entire month of April in Shanghai, China’s most populous city. Mass infection testing of millions of residents has been started this week in the capital Beijing.
Changchun and Jilin in the northeast have also spent most of April in lockdown. Due to this, vehicles and other factories here have been closed. Other small Chinese cities have also faced lockdown.
According to the Statistical Bureau, non-manufacturing business activity also fell by 6.5 percentage points to 41.9 in the month of April. The bureau said that during the lockdown, the activity of the service sector has come down from 46.7 to 40 due to the stagnation of activity in sectors like air transport, accommodation and catering.
On the other hand, let us tell you that even in Myanmar, conditions of economic collapse like Sri Lanka or economic crisis like Pakistan are being created. In fact, this country’s central bank this month asked its citizens to convert their foreign currency and income from abroad into local currency (Kyat) within a day. Myanmar’s foreign exchange reserves have depleted sharply and its foreign debt has increased due to sanctions imposed by Western countries after the February 2021 coup and the Kovid epidemic badly affected the country’s economy.
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