China’s Economy Shows Strong Recovery as Covid Zero Era Ends
- Manufacturing PMI records highest reading since April 2012
- Property market also shows early signs of improvement
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China’s economy is showing signs of a stronger rebound after Covid restrictions were abandoned, with manufacturing posting its biggest improvement in more than a decade, services activity climbing and the housing market stabilizing.
The manufacturing purchasing managers’ index rose to 52.6 last month, the National Bureau of Statistics said Wednesday, the highest reading since April 2012. A non-manufacturing gauge measuring activity in both the services and construction sectors improved to 56.3. Both indexes beat economists’ expectations.