China Factory, Services Activities Slide to 7-Month Lows on COVID-19 Curbs

China Factory, Services Activities Slide to 7-Month Lows on COVID-19 Curbs
Employees work on the production line of high speed train components in Shanghai on July 21, 2022. Aly Song/Reuters
Reuters
Updated:

BEIJING—China’s manufacturing and services activities shrank further in November to seven-month lows, official data showed, stung by the country’s strict COVID-19 restrictions and rising infections that analysts said will hurt the economy well into 2023.

As the coronavirus has spread in China, Beijing has imposed prolonged lockdowns in several places. The clampdowns have hit production at the world’s biggest iPhone factory of Apple Inc. in China, and, according to an analyst’s estimate, now impact about a quarter of the country’s gross domestic product.