China’s factory activity fell to the lowest level in more than two years in April, underscoring the economic damage caused by Covid-19 outbreaks and lockdowns and escalating concerns about further disruption to global supply chains.
The official manufacturing purchasing managers’ index declined to 47.4 points from 49.5 in March, according to data released by the National Bureau of Statistics (NBS) on Saturday. That was largely in line with the median estimate of 47.3 in a Bloomberg survey of economists.
The non-manufacturing…
