China Sales Indexes Fall Dramatically as Covid Lockdowns Cut Growth


 
Some 49% of survey companies claim to have been impacted by the lockdowns. The overall Sales Managers Index fell to a 22 month low in April. Business Confidence has fallen to a 2 year low. The Market Growth Index is at a 2 year low. The Sales Growth index is at a 23 month low. The Jobs Index is at a 19 month low. The Profits Index is at a 22 month low.


All areas of economic activity appear to have been impacted. There is little material difference between the indexes covering the manufacturing sectors, and those covering Service sectors, except in terms of Business Confidence, where the Services sector index fell almost 5 points, a dramatic turnaround from the March figure. Confidence also fell sharply in the manufacturing sector but from a much lower base. The end result is the same. Business Confidence in April all but evaporated in both Manufacturing and Services sectors.
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