Sharpest contraction is in energy-intensive industries, such as petrol, coking coal and ferrous metals
A worker polishes metal at a factory in Hangzhou, China.China’s factory activity unexpectedly shrank in July as sporadic Covid outbreaks disrupted the sector and the slowing global economy weighed on demand.
Indexes tracking output and new orders fell during July, with the sharpest contraction in activity coming in energy-intensive industries, such as petrol, coking coal and ferrous metals.“The level of economic prosperity in China has fallen; the foundation for recovery still needs consolidation,” the NBS senior statistician Zhao Qinghe said.
The port city of Tianjin, which includes factories linked to Boeing and Volkswagen, has also been fighting clusters of Covid-19, and shut some entertainment venues and kindergartens and tutoring agencies in July.
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