China's factory activity slipped into contraction in August for the first time in nearly 1-1/2 years as COVID-19 containment measures, supply bottlenecks and high raw material prices weighed on output in a blow to the economy.
The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery and the impact of strict coronavirus curbs in the country, backing expectations Beijing will roll out more support measures to revitalise growth.
The strict lockdown measures of China's "zero-cases" approach to COVID-19 controls successfully squashed an outbreak of the more infectious Delta variant across several provinces in August, but also hit economic activity. A sub-index for production fell to 47.7, the slowest pace of expansion since February last year at the height of the pandemic, while another sub-index for new orders slipped to 48.0.A shortage of chips has also been crimping manufacturing.
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