China’s factory activity contracted at fastest pace since March 2020 in April amid Covid disruptions

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China's factory activity contracted at a fastest pace since March 2020 as widespread COVID-19 lockdowns halted industrial production and disrupted supply chains.

The official manufacturing Purchasing Managers' Index (PMI) declined to 47.4 in April from 49.5 in March, staying below the 50 mark that separates growth and contraction for a second straight month, showed data released by the National Bureau of Statistics (NBS) on Saturday.

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