China’s Factory Activity Data Misses Expectations as Covid Weighs on Economy

China’s official manufacturing Purchasing Managers’ Index for November came out lower than expected and also in a negative territory at 48, below Reuters poll for 49 and 49.2 in October. This is also below the 50-point mark that separates growth from contraction.

China is struggling with rising Covid-19 cases in recent weeks, seeing multiple stringent measures by the authorities that sparked unrest in the communities leading to protests in many cities.