REDUCED OUTPUT In this file photo taken on May 26, 2021, a worker produces manufacturing machinery at a factory in Nantong, in China’s eastern Jiangsu province. Manufacturing activity in China has hit its lowest level since February 2020, official data showed on April 30, 2022, as the country’s worst coronavirus resurgence since the early days of the pandemic drags on the economy. AFP PHOTOBEIJING: China's manufacturing activity slumped to its lowest level since February 2020, official data showed on Saturday, the latest sign of economic pain as Beijing doggedly pursues its zero-Covid response. On Saturday, Chinese media group Caixin released its own manufacturing PMI, showing a second straight month of deterioration, with the figure dropping from 48.1 to 46.0. On Thursday, tech giant Apple warned that China's Covid lockdowns were among the factors that would dent its June quarter results by $4 to $8 billion.

Source: Manila Times May 01, 2022 17:35 UTC