China's factory activity contracted at a steeper pace in April as widespread COVID-19 lockdowns halted industrial production and disrupted supply chains, raising fears of a sharp economic slowdown in the second quarter that will weigh on global growth.

ฝาก 1 บาท ฟรี 50 บาท ล่าสุด กดรับ เอง For new bettors, we have some good advice to tell you. Just sign up for free credits, don't share them.

The official manufacturing Purchasing Managers' Index (PMI) fell to 47.4 in April from 49.5 in March, in a second straight month of contraction, the National Bureau of Statistics (NBS) said on Saturday. That was the lowest since February 2020.

A Reuters poll had expected the PMI to ease to 48, well below the 50-point mark that separates contraction from growth on a monthly basis.

The headline PMI reading, combined with an even sharper crimp in services, offered the first clues into the performance of an economy ravaged by expanding COVID curbs, such as an extended shutdown of the commercial hub, Shanghai.

Factory activity shrank at its steepest pace in 26 months, a Caixin survey of private business showed, with the new export orders index diving to its lowest since June 2020, suggesting a weakening in one of the few bright spots in the economy.

In a statement, the statistics bureau linked COVID disruptions to as significant decline in both demand and supply in the manufacturing sector.