Manufacturing PMI falls for fifth month as Beijing prepares to unveil growth target at annual parliament session
China’s economy showed further signs of sluggish momentum as factory activity slowed, increasing pressure on President Xi Jinping take stronger action to boost growth days before Beijing opens its annual flagship political event. The country’s official manufacturing purchasing managers’ index stood at 49.1 for February, according to figures released on Friday, slipping from a reading of 49.2 in January and in line with a Reuters analyst forecast.
Analysts expect Beijing to announce a growth target for 2024 of about 5 per cent. This would be the same as last year’s figure, which was the lowest in decades. But it would be harder to achieve this year because of the absence of a low base effect from the coronavirus pandemic that flattered growth in 2023. The CCP leadership body, the politburo, this week indicated this week that it was open to more stimulus measures, though few expect Beijing to announce a “bazooka” package as in the past.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stage on Granite vs Integrated Granite Motion Systems — What to Choose for Precision Manufacturing?This article explores the difference between a stage on granite base and integrated granite motion systems
Read more »
Graphene Manufacturing GroupGMG has developed and proved its own proprietary production process to manufacture Graphene powder from readily available low-cost feedstock.
Read more »
Electrical AFM, An Indispensable Tool in the Semiconductor IndustryElectrical AFM is crucial in semiconductor manufacturing, offering nanoscale resolution for device inspection and material analysis.
Read more »
Beijing City Library is an otherworldly escape from the digital worldTianna Williams is the Editorial Executive at Wallpaper*. Before joining the team in 2023, Williams taught scuba diving for three years before heading into journalism.
Read more »
How Russia war-gamed a Chinese invasionLeaked military documents lay bare Moscow’s long-standing fears about Beijing
Read more »
Leyland Trucks to take on 28 new apprenticesApprentices at Leyland Trucks. Pic: Leyland Trucks Leyland Trucks, one of the UK’s leading engineering and manufacturing companies, is searching for 28 ne
Read more »