China's factory activity drops, bogged down by more Covid controls
China's factory activity declined in October, official data showed Monday. Pictured here on Oct. 27, 2022, in Jiangsu province is an aluminum products company. Vcg | Visual China Group | Getty Images BEIJING — China's factory activity fell in October due to frequent Covid outbreaks, the National Bureau of Statistics said Monday. The official purchasing managers' index for manufacturing fell to 49.2 this month, down from 50.1 in September, the data showed. Economists had expected a print of 50, according to analysts polled by Reuters. Readings below 50 indicate a contraction in business activity , while figures 50 above reflect expansion. The index surveys businesses on operating conditions. The index has come in below 50 for six out of 10 months of the year so far. Sub-indicators on factory employment, production, new orders and supplier delivery time all showed contraction in October compared to September. watch now VIDEO 2:53 02:53 China will continue to be No. 1 in the...