{"id":1907869,"date":"2023-03-31T12:12:11","date_gmt":"2023-03-31T16:12:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/slower-china-factory-activity-growth-challenges-economic-recovery-prospects\/"},"modified":"2023-03-31T12:18:39","modified_gmt":"2023-03-31T16:18:39","slug":"slower-china-factory-activity-growth-challenges-economic-recovery-prospects","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/slower-china-factory-activity-growth-challenges-economic-recovery-prospects\/","title":{"rendered":"Slower China factory activity growth challenges economic recovery prospects"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fslower-china-factory-activity-growth-challenges-economic-recovery-prospects%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1907869&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><br \/>\n<html><body><\/p>\n<div class=\"entry-content\">\n<p>China&#8217;s manufacturing sector showed slower growth in March, according to official data, raising concerns about the strength of post-COVID recovery. Global demand is weaker, and there is a property market downturn.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n<script>\ngoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });\n<\/script>\n<\/div>\n<p>The services sector, on the other hand, had the fastest expansion in almost 12 years due to the end of China&#8217;s zero-COVID policy boost for transportation, accommodation, and construction.<\/p>\n<p>The official manufacturing purchasing managers&#8217; index (PMI) was 51.9, slightly lower than February&#8217;s 52.6, as shown in data from the National Bureau of Statistics (NBS), still above the 50-point that signals expansion and contraction on a monthly basis. Economists who participated in Reuters polls expected the rise to be 51.5. Meanwhile, February saw the fastest pace of growth in more than a decade.<\/p>\n<p>The year&#8217;s first two months showed an increase in China&#8217;s economic activity driven by recovery in consumption and infrastructure investment after COVID-19 disruptions. Retail sales also went back to growth.<\/p>\n<p>Nomura&#8217;s economists confirmed that the data indicates that China&#8217;s economy has reached a &#8220;sweet spot&#8221; after the zero-COVID policy and property tightening measures came to an end. However, they remain cautious amid rapidly worsening geopolitical tensions and financial uncertainties outside of China.<\/p>\n<p>While business and consumer sentiments are beginning to improve, the manufacturing sector remains under pressure due to sluggish global demand and high costs. Export remains weak, and there is a continued decline in new home sales, but the rate of fall is slowly reducing.<\/p>\n<p>To support the economy&#8217;s recovery, China&#8217;s central bank unexpectedly reduced the amount of cash banks need to hold in reserve.<\/p>\n<p>Official data from this week revealed that Chinese industrial firms&#8217; profits had declined in the first two months of the year, indicating a bleak start of the recovery due to slowing growth in customer demand and production. The output and new orders sub-indexes showed a downturn from February levels, with the new export order sub-index at 50.4, indicating lacklustre external demand.<\/p>\n<p>Nevertheless, the non-manufacturing PMI jumped to 58.2%, the highest level since May 2011, because of the services sector&#8217;s strong momentum.<\/p>\n<p>The government&#8217;s move towards a softer attitude toward the private sector also increased market confidence. The country set around 5% as a modest target for economic growth this year after a slow 3% showing in 2022, which is one of the weakest performances in almost 50 years.<\/p>\n<p>(Reporting by Liangping Gao and Ryan Woo; Editing by Jamie Freed)<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Thursday, 03\/30\/2023 | with Juan Andres Caro<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Thursday, 03\/30\/2023 | with Andrea Gallagher<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Maria Zeee, Independent Journalist and Founder of Zeee Media, discusses how the establishment handles dissenting voices.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Edward Dowd, founder of Phinance Technologies and author of &#8216;Cause Unknown: The Epidemic of Sudden Death in 2021 &#038; 2022,&#8217; discusses the latest on the unraveling of the COVID narrative.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -Meta Platforms Inc said on Thursday it would change the legal basis on how Facebook and Instagram use personal data to\u2026<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>By Diane Bartz WASHINGTON (Reuters) -The tech ethics group Center for Artificial Intelligence and Digital Policy is asking the U.S. Federal Trade\u2026<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>By Kanishka Singh WASHINGTON (Reuters) \u2013 The United States and some of its partner countries on Thursday called for strict domestic and\u2026<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>By Foo Yun Chee BRUSSELS (Reuters) -Alphabet&#8217;s Google Cloud has accused Microsoft of anti-competitive cloud computing practices and criticised imminent deals with&#8230;<\/p>\n<\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Liangping Gao and Ryan Woo BEIJING (Reuters) \u2013 China\u2019s manufacturing activity expanded at a slower pace in March, official data showed on Friday, raising doubts about the strength of a post-COVID factory recovery amid weaker global demand and a property market downturn. The services sector was stronger, with activity expanding at the fastest pace<\/p>\n","protected":false},"author":66,"featured_media":1907870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[6869,5533,4501,4202,13385,10597,23228,12136,21789],"class_list":["post-1907869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-activity","tag-challenges","tag-china","tag-economic","tag-factory","tag-growth","tag-prospects","tag-recovery","tag-slower"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1907869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1907869"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1907869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1907870"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1907869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1907869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1907869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}