BEIJING—Manufacturing activity in China grew at a slower pace in January compared to the previous month, according to an official measure, as the Chinese regime’s strict “zero-tolerance” COVID-19 measures put a dampener on economic activity.
The purchasing manager’s index (PMI), tracked by China’s National Bureau of Statistics (NBS), slipped to 50.1 from 50.3 in December, continuing a third month of weak growth. A separate PMI by the business magazine Caixin showed on Sunday that manufacturing activity fell even further, contracting from 50.9 in December to 49.1 in January.