China’s economy weakens as power crunch, Covid rules hurt

NEW DELHI: China’s economy showed signs of further weakness in October as power shortages and surging commodity prices weighed on manufacturing, while strict Covid controls put a brake on holiday spending.
The official manufacturing purchasing managers’ index fell to 49.2, the National Bureau of Statistics said on Sunday, the second month it was below the key 50-mark that signals a contraction in production.
The non-manufacturing gauge, which measures activity in the construction and services sectors, dropped to 52.4, below the consensus forecast.