Industrial activity in China recovered in January after 4 months of contraction

Official data showed, on Tuesday, an expansion industrial activity in China In January, after four months of contraction, as the Chinese economy rebounded following the easing of strict restrictions related to “Covid”.

The official manufacturing purchasing managers’ index, the main gauge of factory output in the world’s second-largest economy, rose to 50.1 points from 47 in December, according to the National Bureau of Statistics data.

The figures violated the continuous decline since September, and exceeded 50 points.

The non-manufacturing PMI, which includes the services and construction sector, rose to 54.4 points in January, compared to 41.6 points in December.

Last month, Beijing abruptly abandoned the “zero Covid” policy to curb the spread of the Corona virus, which included strict closures, which sparked unprecedented protests and disrupted business in the country.

China’s economy grew just 3% last year at its slowest pace in four decades, as Covid restrictions and the real estate market crisis hampered the economy.

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