The index that indicates the business sentiment of the manufacturing industry in China in December has fallen below the ``50'', which is a turning point for economic judgment, for three consecutive months due to the rapid spread of the new coronavirus infection. It's the lowest level.
According to the manufacturing PMI (Purchasing Managers' Confidence Index) survey of 3,200 manufacturing companies by the National Bureau of Statistics of China, the index for this month was "47", down 1 point from last month.
It fell below 50, a milestone for judging the good and bad of the economy, for three consecutive months, and was the lowest level since February, the year before the spread of the new coronavirus infection first spread in China.
This is because after the "zero corona" policy, which entails strict restrictions on movement, was eased, the rapid spread of infections in Japan caused employees to be unable to go to work, resulting in a series of decreases in production and logistics. This was due to widespread turmoil and continued weak demand.
This month's business confidence index for non-manufacturing industries such as lodging and eating and drinking also fell sharply by 5.1 points from last month to 41.6.
This is also the lowest level since February, falling below the milestone "50" for three consecutive months, and the spread of infection has had a major impact on people refraining from going out.
The National Bureau of Statistics predicts that the economy will pick up as the infection situation improves, but the focus will be on how long the impact of the spread of infection will last.