Foreign
THE mood in the Chinese economy had brightened for the first time in months following the repeal of tough COVID-19 controls.
The National Bureau of Statistics in Beijing reported on Tuesday that the Purchasing Managers’ Index (PMI) rose significantly in January compared to the previous month, from 47 to 50.1 points.
It said that readings above 50 points indicate an expansion in economic activity, while readings below that point to a clouding of sentiment.
The Chinese economy had been heavily burdened by the government’s COVID-19 rules over the past year.
In an abrupt about-face, the leadership abandoned its zero-COVID policy in early December.
Most economists expect a significant economic recovery this year, but just how big is still up for debate, with some analysts saying the virus could yet cause disruption to industry.(NAN)
E.C
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