BEIJING : China's factory activity likely expanded in June for the first time in four months, driven by a faster recovery in production and an easing of supply chain snags as manufacturing hubs emerged from lockdowns, a Reuters poll showed on Wednesday.
The key drivers would be an accelerated resumption of production amid easing COVID curbs and possibly higher demand for upstream production with stronger boost to infrastructure, analysts at Morgan Stanley said in a note. Though activity in China is gaining momentum from the lengthy COVID lockdown in April and May, headwinds, including a still subdued property market, soft consumer spending and fear of any recurring waves of infections, persist.
Analysts say the official GDP target of around 5.5 per cent for this year will be hard to achieve without abandoning the zero-COVID strategy.
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