• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

China’s manufacturing activity weakens

China

The Matters Press by The Matters Press
January 3, 2023
Reading Time: 1 min read
0
China’s commerce ministry to promote services trade

China’s factory activity deteriorated further at the end of the year as COVID-19 containment measures together with softer demand forced manufacturers to downsize production.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

The Caixin manufacturing Purchasing Managers’ Index edged down to 49.0 in December from 49.4 in the previous month, survey results published by S&P Global showed on Tuesday.

The reading has remained below the neutral 50.0 mark for the fifth successive month suggesting contraction as COVID-19 outbreaks dampened manufacturing activity.

The official PMI survey results published over the weekend also showed that the manufacturing and services sectors weakened the most since early 2020.

This in spite of the abrupt abandonment of the zero-COVID policy in December.

New business continued to fall due to relatively weak demand conditions amid the ongoing pandemic, S&P Global said.

Foreign demand also declined at a quicker pace on the sluggish global economic situation and the pandemic.

Production dropped at the softest pace in four months.

In line with the fall in new orders, companies reduced their purchasing activity at a faster rate.

Inventories of purchased items as well as finished goods decreased further.

There was another reduction in employment due to lower production requirements and difficulties in sourcing workers.

Average input prices increased only slightly in December and firms continued to lower their selling prices as part of efforts to boost competitiveness.

Manufacturers were more optimistic about their production outlook as the pandemic situation improves and market conditions strengthen.

“Overall, the pandemic continued to take a toll on the economy in December,’’ Wang Zhe, a senior economist at Caixin Insight Group said.

Infections are expected to explode in the short run, which will severely interfere with production and everyday life.

“How to effectively coordinate COVID controls with economic and social development has once again become a crucial question,’’ Zhe said.

Tags: China
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Coronavirus hits hard as China records 811 deaths

President Xi Jinping harps on building modern socialist country

3,000 manufacturers to attend global fair on industrial solution in Lagos

Vietnam suffering contraction in manufacturing amid lower demand

Recommended Stories

Economists Challenge IMF on call for further VAT increase in Nigeria

IMF bashes world economy, more uncertainty

July 28, 2022
Nigeria, nine others fail to sign air market deal

Emirates airline offers special promoto Nigerians

January 9, 2020
Nigeria establishes cottage poultry processing facility to transform livestock

Poultry farmers raise alarm over closure of farms

May 26, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us