China’s economy slows rapidly as Covid-19 lockdowns bite

An empty street and a closed IKEA store are pictured amid a Covid-19 outbreak, during the Labour Day holiday in Shanghai, China, on April 30 2022. Picture: REUTERS/BRENDA GOH

Factory activity fell to the lowest level in more than two years, with the official manufacturing PMI dropping to 47.4 from 49.5 in March, according to data released by the National Bureau of Statistics on Saturday. That was largely in line with the median estimate of economists. China’s economic activity contracted sharply in April as the lockdown of Shanghai and other areas around the country to contain a widespread Covid-19 outbreak closed factories, snarled roads and stopped people from consuming, escalating concerns about further disruption to global supply chains. Graphic: BLOOMBERG

An index measuring the delivery time of suppliers dropped to 37.2 from 46.5, suggesting that it’s taking much longer for raw materials to reach their manufacturing customers, despite repeated vows by authorities to keep transportation and logistics running smoothly. The importance of guaranteeing supply chains was reiterated by the Politburo on Friday.

Construction activities continued to expand but at a weaker pace as Covid-19 controls restricted the movement of workers. President Xi Jinping this week called for all-out efforts to spur infrastructure spending, saying it was a pillar of economic and social development. Economists also expect infrastructure investment to play a key role in supporting growth.

Logistics bottlenecks have caused parts shortages and made moving people and goods within the country and across borders difficult. Consumer spending has also dropped as people stay home, voluntarily or unwillingly.

Source: Financial Digest (financialdigest.net)

You have been the best, i always known thanks my to my friend so much for introducing me to you. Now I'm dept free julianna_wallet And it pays off. At first I invested R10,000 in few days I got a return of R103,000

Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07

C lockdowns has no benefit other than crippling the economy

I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to _ambreymarcus1 , and I gave Bitcoin trading another try, I successfully withdrew R85,000 after two weeks of trading, am so grateful _ambreymarcus1 thank you.

I'm really grateful for all the efforts you have render to me with my little investment of R10,000 and with joy over me after withdrawing R100,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

COVID-19: Taiwan’s daily Covid-19 cases top 10,000 for first timeTAIPEI, April 28 (Reuters) - Taiwan reported on Thursday that the daily number of confirmed domestic Covid-19 cases had topped 10,000 for the first time, in line with predictions, and the health minister said infections would continue to rise. Harrismayson0 ɪ ᴡᴀs sᴏ ᴇxᴄɪᴛᴇᴅ ᴡʜᴇɴ ɪ ᴏᴘᴇɴᴇᴅ ᴍʏ ᴡᴀʟʟᴇᴛ ᴀɴᴅ sᴀᴡ ᴍʏ ᴘᴀʏᴍᴇɴᴛ ᴏғ $ 12,350. ᴡʜᴀᴛ ᴀ ʙᴏᴏsᴛ! ʏᴏᴜ ᴋɴᴏᴡ ᴇxᴀᴄᴛʟʏ ᴡʜᴀᴛ ɪ ᴡᴀɴᴛᴇᴅ ᴛʜᴀɴᴋ ʏᴏᴜ sᴏ ᴍᴜᴄʜ ғᴏʀ ᴛʜᴇ ᴘᴀʏᴍᴇɴᴛ
Source: dailymaverick - 🏆 3. / 84 Read more »

COVID-19: China’s capital sharpens Covid-19 screening to prevent Shanghai-like chaosBEIJING/SHANGHAI, April 28 (Reuters) - Beijing closed some schools and public spaces on Thursday, as most of the Chinese capital's 22 million residents turned up for more mass Covid-19 testing aimed at averting a Shanghai-like lockdown. Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Source: dailymaverick - 🏆 3. / 84 Read more »

COVID-19: Africa seeing uptick in Covid-19 cases driven by South AfricaNAIROBI, April 28 (Reuters) - Africa is seeing an uptick in Covid-19 cases largely driven by a doubling in cases reported in South Africa, the World Health Organization said on Thursday. Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Source: dailymaverick - 🏆 3. / 84 Read more »

COVID-19: F1 race directors test positive for Covid-19 ahead of Miami GPLONDON, April 27 (Reuters) - Formula One race directors Eduardo Freitas and Niels Wittich have both tested positive for Covid-19, raising questions about who will take charge of next week's inaugural Miami Grand Prix, British media reported on Wednesday. Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Source: dailymaverick - 🏆 3. / 84 Read more »

WHO endorses Covid-19 pill, Paxlovid, against hospitalisation not in SAWHO endorses Covid-19 pill, Paxlovid, against hospitalisation not in SA The World Health Organisation “strongly recommends” Paxlovid for patients but South Africa is yet to approve the pill.
Source: TheSAnews - 🏆 25. / 59 Read more »

COVID-19: SA records 4146 new cases and 4 deaths – 18,3% positivityCOVID-19: SA records 4146 new cases and 4 deaths – 18,3% positivity South Africa added more than 4000 new cases on Thursday. The country now has 39 518 active cases of COVID-19.
Source: TheSAnews - 🏆 25. / 59 Read more »