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Caixin China General Manufacturing PMI: COVID-19 containment continues to dampen output at end of 2022
Chinese manufacturers signalled a further slight deterioration in overall business conditions at the end of 2022, as efforts to stop the spread of COVID-19 continued to disrupt operations and dampen client demand. While output fell at a softer rate compared to November, total new orders fell at a quicker pace as firms cited relatively weak market conditions. As a result, companies cut back on purchasing activity and reduced their headcounts further. Encouragingly, business confidence around the 12-month outlook for output improved to the highest since February. Inflationary pressures meanwhile remained muted, as ... (full story)