MCHI - China Manufacturing Sector Falls Into Decline Amid Omicron Wave Job Losses Accelerate
- Tightened restrictions to fight the Omicron wave have led to a renewed decline in manufacturing production in mainland China, with demand also weakening - notably from export markets.
- Manufacturing production in mainland China fell in January, according to PMI survey data produced for Caixin by IHS Markit, as the Omicron wave disrupted business activity.
- An additional impact of the Omicron wave was a further lengthening of supply chains, with average supplier delivery times lengthening to the greatest extent since October.
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China Manufacturing Sector Falls Into Decline Amid Omicron Wave, Job Losses Accelerate