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☆ China's Dec services sector extends declines as COVID cases surge - Caixin PMI
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Jan 5 (Reuters) - China's services activity shrank in December as surging COVID infections hit demand, a private-sector survey showed on Thursday, although the pace of recent declines slowed while business confidence rose to a 17-month high. The Caixin/S&P Global services purchasing managers' index (PMI) rose to 48.0 in December from 46.7 in November, but remained below the 50-point mark, which indicates contraction in activity, for a fourth straight month. China abruptly removed its stringent zero-COVID strategy in early December after rare public protests over the protracted curbs, triggering a surge COVID infections across the country. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, rose to 48.3 in December from 47.0 in the previous month, remaining in contractionary territory for the fourth straight month. The Caixin PMI is compiled by S&P Global based on responses to questions sent to purchasing managers in China.

☆ China Dec factory activity extends declines on COVID infections - Caixin PMI
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +3 min

[1/2] A worker polishes a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. The Caixin/Markit manufacturing purchasing managers' index (PMI) fell to 49.0 in December from 49.4 in November. China's larger official PMI survey on Saturday showed a much sharper decline, with the activity index falling to a near three-year low. The figures provide a snapshot of the challenges faced by Chinese manufacturers who now have to contend with surging infections after the country's abrupt COVID policy U-turn in early December. Chinese leaders have pledged to step up policy adjustments to cushion the impact on businesses and consumers of a surge in COVID infections at a time when a weakening global economy is hurting exports.

☆ China services activity shrinks to 6-month lows - Caixin PMI
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +3 min

The Caixin/S&P Global services purchasing managers' index (PMI) fell to 46.7 from 48.4, marking the third monthly contraction in a row. The figure echoed weak data in a larger official survey on Wednesday, which showed services activity fell to seven-month lows. "The market is in urgent need of policies to promote employment and stabilize domestic demand. Beijing should further coordinate fiscal and monetary policies to expand domestic demand and boost incomes of the poorer parts of the population," Wang added. The Caixin PMI is compiled by S&P Global from responses to questions sent to purchasing managers in China.

☆ China's factory activity shrinks in Nov amid widespread COVID curbs - Caixin PMI
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Dec 1 (Reuters) - China's factory activity shrank in November as widespread COVID-19 curbs disrupted manufacturers' output, a private sector survey showed on Thursday, weighing on employment and economic growth in the fourth quarter. But the reading marks the fourth monthly contraction in a row as the 50-point index mark separates growth from contraction on a monthly basis. Analysts see mounting downside risks to China's economic growth in the fourth quarter despite a flurry of policies to shore up activity, including reserve requirement ratio cuts and support to rescue the sluggish property sector. Sub-indexes of factory output, employment and new export orders all fell at a sharper pace in November from October, the private Caixin survey showed. The Caixin manufacturing PMI centres on small firms and coastal regions, which includes a number of exporters.

☆ China's services activity skids in October on COVID restrictions - Caixin PMI
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Thomas PeterBEIJING, Nov 3 (Reuters) - China's services activity contracted again in October as COVID-19 containment measures hit businesses and consumption, overshadowing the economic rebound in the last quarter, a private-sector business survey showed on Thursday. An official survey on Monday also showed services activity, which relies more on face-to-face interactions, fell into contraction territory in October from expansion in the month prior. Surprisingly, the survey showed that efforts to expand staffing capacity and enhance sales capabilities led to a rise in employment across the service sector. read moreCaixin's composite PMI, which includes both manufacturing and services activity, dropped to 48.3 in October from 48.5 the previous month, marking the lowest since May. The Caixin PMI is compiled by S&P Global from responses to questions sent to purchasing managers in China.

☆ China's Oct factory activity shrinks as COVID curbs hit output, demand - Caixin PMI
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.2 in October, up from 48.1 in September and slightly above analysts' expectations for 49.0. In line with China's official PMI, which unexpectedly fell into contraction last month, waning factory activity weighed on the fragile recovery of the world's second-biggest economy amid a deepening property crisis and weakening demand. The softer activity continued to pressure the labour market as the manufacturing employment fell for the seventh month in a row. "In particular, the spread of the coronavirus in many regions significantly restricts both supply and demand," Wang said. The Caixin manufacturing PMI centres on small firms and coastal regions where sit a great number of exporters.

☆ China's Golden Week spending plunges to seven-year low as zero-Covid batters economy
▼ + stars: | 2022-10-10 | by ( Laura He | ) edition.cnn.com time to read: +7 min

The National Day break is one of China’s longest public holidays and usually a peak season for travel and spending. But this year, people were deterred from traveling by a resurgence of the virus and stringent Covid restrictions. All the weak data point to the heavy damage of Beijing’s zero-Covid policy on consumer spending and the economy, said analysts. China’s service sector is a key source of employment, accounting for 48% of total jobs created, according to government data. “Entrepreneurs’ concerns continued to stem from recurring Covid outbreaks and the impact of related controls on the market,” Wang said.

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