BEIJING: China’s manufacturing activity contracted in March as authorities locked down cities to curb a surge in Covid cases, damaging the outlook for economic growth even before the latest outbreak in Shanghai began wreaking havoc.
The official manufacturing purchasing managers’ index (PMI) fell to 49.5, breaching the 50-mark that separates expansion from contraction for the first time in five months, data from the National Bureau of Statistics (NBS) showed yesterday
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