Weak awakening for Chinese factories after emerging crisis of Corona virus

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Western media reported today, Sunday, the slow growth of Chinese industrial activities in May, with slight indications of market recovery after the outbreak of the new epidemic of the Corona virus.

Reuters, citing data from the National Bureau of Statistics, said that the official manufacturing purchasing managers’ price index fell to 50.6 in May from 50.8 in April, but it remains above the 50-point level between growth and deflation compared to the previous month.

Manufacturing industries also slowed for the second month in a row, despite activities recovering from unprecedented low levels recorded in February, when the government imposed strict travel restrictions and isolation rules and suspended factories to limit the spread of the disease.

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                    Photo / AMIR COHEN

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The survey showed that factories reduced the number of workers for the first time since the resumption of their activities. The sub-index fell to 49.4 from 50.2 in April, the survey showed.

In May, the PMI for SMEs fell to 48.8 from 50.8, while large companies announced a faster expansion of activities.

In an encouraging sign, an index that measures total new supply orders improved to 50.9 from 50.2 in April, which could signal an imminent acceleration in domestic demand.

The new orders for the construction sector increased to 58, compared to 53.2 the previous month, and companies in the sector also accelerated the pace of employment.



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