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Chinese factory activity sinks, weighing on weak economy


AP Business Writer

BEIJING (AP) — An official survey shows Chinese manufacturing’s recovery from anti-virus shutdowns faltered in July as activity sank. That adds to pressure on the struggling economy in a politically sensitive year when President Xi Jinping is expected to try to extend his time in power. The survey by the national statistics agency and an official industry group, the China Federation of Logistics & Purchasing, showed factory activity was depressed by weak global demand and anti-virus controls that are weighing on domestic consumer spending. The ruling Communist Party has stopped talking about this year’s official economic growth target of 5.5% after output shrank in the three months ending in June compared with the previous quarter.

Article Topic Follows: AP National Business

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