China Lockdowns Impacted on 49% of Companies

The All-Sector Sales Managers Index has fallen in May to levels not seen for over two years


 
The May Sales Managers Index illustrates dramatically the heavy toll being taken on the Chinese economy by the continuing Government attempts at preventing the spread of Covid. Some 40 cities are now reported as affected accounting for almost a third of GDP.


Manufacturing has been particularly badly affected with factories unable to operate entirely closed off from supply chains. The Manufacturing Market Growth Index came in at a 25 month low in May, with a reading of 45.3, even lower than the April reading of 46.9.

Business Confidence in the Manufacturing sector registered a 27 month low, and the Staffing Index and overall Manufacturing Sales Managers Indexes also registered two year lows. The low level recorded by the Staffing Index is particularly significant as the Index records year on year growth (or decline in this instance), as opposed to month on month changes.
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