China’s Services Sector Contracts Amid Delta Virus Outbreak

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China’s Services Sector Contracts Amid Delta Virus Outbreak

Bloomberg2021-08-31

China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems. ...

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Shadowrider
·2021-08-31
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·2021-08-31
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The non-manufacturing gauge, which measures activity in the construction and services sectors, slumped to 47.5, signaling a contraction for the first time since the initial virus cases in the first quarter last year.\nChina imposed stringent measures, including travel curbs, mass testing and quarantines, for about a month to bring a new wave of Covid casesunder control. The outbreak was the most widespread since the initial flareup in 2020, sweeping across nearly 50 cities in 17 provinces in the country. Confidence among businesses weakened and consumers cut back on spending after authorities rushed to close tourist sites, call off cultural events and cancel flights.\n“Today’s data again reflected the outsized and asymmetric shock on the service sector from Covid-related restrictions,” said Liu Peiqian, China economist at Natwest Markets in Singapore. 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The central bank hassignaledit may provide more targeted support for some industries, while the government has pledged to accelerate fiscal spending in the second half of the year, helping to cushion growth.\nOther key highlights from the PMI data:\n\nSub-index for manufacturing jobs was unchanged at 49.6; non-manufacturing employment decreased to 47\nConstruction sub-index rose to 60.5 from 57.5 in July\nPrice pressures on manufacturers eased in the month, with input and output prices declining slightly","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":818317455,"gmtCreate":1630376001377,"gmtModify":1676530284865,"author":{"id":"3582060513966213","authorId":"3582060513966213","name":"Shadowrider","avatar":"https://static.tigerbbs.com/5a097dc665f46a3e5b535d2fd63e682b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582060513966213","authorIdStr":"3582060513966213"},"htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/818317455","repostId":1111747177,"repostType":4,"repost":{"id":"1111747177","kind":"news","pubTimestamp":1630374318,"share":"https://ttm.financial/m/news/1111747177?lang=&edition=fundamental","pubTime":"2021-08-31 09:45","market":"hk","language":"en","title":"China’s Services Sector Contracts Amid Delta Virus Outbreak","url":"https://stock-news.laohu8.com/highlight/detail?id=1111747177","media":"Bloomberg","summary":"China’s economy took a knock from the delta virus outbreak in August, with the services industry con","content":"<p>China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems.</p>\n<p>The official manufacturing purchasing managers’ index fell to 50.1 from 50.4 in July, the National Bureau of Statistics said Tuesday, slightly lower than the 50.2 median estimate in a Bloomberg survey of economists. The non-manufacturing gauge, which measures activity in the construction and services sectors, slumped to 47.5, signaling a contraction for the first time since the initial virus cases in the first quarter last year.</p>\n<p><img src=\"https://static.tigerbbs.com/36422d3167b10059e228bf2f913953f9\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\">China imposed stringent measures, including travel curbs, mass testing and quarantines, for about a month to bring a new wave of Covid casesunder control. The outbreak was the most widespread since the initial flareup in 2020, sweeping across nearly 50 cities in 17 provinces in the country. Confidence among businesses weakened and consumers cut back on spending after authorities rushed to close tourist sites, call off cultural events and cancel flights.</p>\n<p>“Today’s data again reflected the outsized and asymmetric shock on the service sector from Covid-related restrictions,” said Liu Peiqian, China economist at Natwest Markets in Singapore. While there’s room for a rebound in services PMI in coming months as the outbreak is under control, any future Covid outbreak domestically will continue to weigh on the sector, she said.</p>\n<p>Exports also took a knock despite some overseas buyers placing their Christmas ordersearlierthan in previous years, worried about the risk of delayed shipments. The new export orders sub-index declined to 46.7 in August from 47.7 in July, while the new orders sub-index dropped to 49.6 from 50.9.</p>\n<p>Exporters have faced a number of challenges this year, like container shortages and excessive freight charges.</p>\n<p>Beyond the virus outbreaks, the economy’s recovery is also showingsignsof faltering in the wake of recent regulatory crackdowns and weak demand at home. The central bank hassignaledit may provide more targeted support for some industries, while the government has pledged to accelerate fiscal spending in the second half of the year, helping to cushion growth.</p>\n<p>Other key highlights from the PMI data:</p>\n<ul>\n <li>Sub-index for manufacturing jobs was unchanged at 49.6; non-manufacturing employment decreased to 47</li>\n <li>Construction sub-index rose to 60.5 from 57.5 in July</li>\n <li>Price pressures on manufacturers eased in the month, with input and output prices declining slightly</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s Services Sector Contracts Amid Delta Virus Outbreak</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina’s Services Sector Contracts Amid Delta Virus Outbreak\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-31 09:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-31/china-s-economic-activity-weakens-in-august-amid-delta-outbreak?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems.\n...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-31/china-s-economic-activity-weakens-in-august-amid-delta-outbreak?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","HSI":"恒生指数","000001.SH":"上证指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-31/china-s-economic-activity-weakens-in-august-amid-delta-outbreak?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111747177","content_text":"China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems.\nThe official manufacturing purchasing managers’ index fell to 50.1 from 50.4 in July, the National Bureau of Statistics said Tuesday, slightly lower than the 50.2 median estimate in a Bloomberg survey of economists. The non-manufacturing gauge, which measures activity in the construction and services sectors, slumped to 47.5, signaling a contraction for the first time since the initial virus cases in the first quarter last year.\nChina imposed stringent measures, including travel curbs, mass testing and quarantines, for about a month to bring a new wave of Covid casesunder control. The outbreak was the most widespread since the initial flareup in 2020, sweeping across nearly 50 cities in 17 provinces in the country. Confidence among businesses weakened and consumers cut back on spending after authorities rushed to close tourist sites, call off cultural events and cancel flights.\n“Today’s data again reflected the outsized and asymmetric shock on the service sector from Covid-related restrictions,” said Liu Peiqian, China economist at Natwest Markets in Singapore. While there’s room for a rebound in services PMI in coming months as the outbreak is under control, any future Covid outbreak domestically will continue to weigh on the sector, she said.\nExports also took a knock despite some overseas buyers placing their Christmas ordersearlierthan in previous years, worried about the risk of delayed shipments. The new export orders sub-index declined to 46.7 in August from 47.7 in July, while the new orders sub-index dropped to 49.6 from 50.9.\nExporters have faced a number of challenges this year, like container shortages and excessive freight charges.\nBeyond the virus outbreaks, the economy’s recovery is also showingsignsof faltering in the wake of recent regulatory crackdowns and weak demand at home. The central bank hassignaledit may provide more targeted support for some industries, while the government has pledged to accelerate fiscal spending in the second half of the year, helping to cushion growth.\nOther key highlights from the PMI data:\n\nSub-index for manufacturing jobs was unchanged at 49.6; non-manufacturing employment decreased to 47\nConstruction sub-index rose to 60.5 from 57.5 in July\nPrice pressures on manufacturers eased in the month, with input and output prices declining slightly","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5703624,"gmtCreate":1630391878967,"gmtModify":1663233161529,"authorId":3585337577037707,"author":{"id":3585337577037707,"idStr":"3585337577037707","authorId":3585337577037707,"name":"JieYee","avatar":"https://static.tigerbbs.com/3e4b8be34071a883cb274790cad527e5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":818317455,"type":1,"supId":0,"prevId":0,"content":"like","text":"like","html":"like"}],"langContent":"EN"},{"id":818331687,"gmtCreate":1630374948749,"gmtModify":1676530284435,"author":{"id":"3581472743019515","authorId":"3581472743019515","name":"sqsq123","avatar":"https://static.tigerbbs.com/785195472d548d1e809574255456222e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3581472743019515","authorIdStr":"3581472743019515"},"htmlText":"Nice!!!!!","listText":"Nice!!!!!","text":"Nice!!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/818331687","repostId":1111747177,"repostType":4,"repost":{"id":"1111747177","kind":"news","pubTimestamp":1630374318,"share":"https://ttm.financial/m/news/1111747177?lang=&edition=fundamental","pubTime":"2021-08-31 09:45","market":"hk","language":"en","title":"China’s Services Sector Contracts Amid Delta Virus Outbreak","url":"https://stock-news.laohu8.com/highlight/detail?id=1111747177","media":"Bloomberg","summary":"China’s economy took a knock from the delta virus outbreak in August, with the services industry con","content":"<p>China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems.</p>\n<p>The official manufacturing purchasing managers’ index fell to 50.1 from 50.4 in July, the National Bureau of Statistics said Tuesday, slightly lower than the 50.2 median estimate in a Bloomberg survey of economists. The non-manufacturing gauge, which measures activity in the construction and services sectors, slumped to 47.5, signaling a contraction for the first time since the initial virus cases in the first quarter last year.</p>\n<p><img src=\"https://static.tigerbbs.com/36422d3167b10059e228bf2f913953f9\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\">China imposed stringent measures, including travel curbs, mass testing and quarantines, for about a month to bring a new wave of Covid casesunder control. The outbreak was the most widespread since the initial flareup in 2020, sweeping across nearly 50 cities in 17 provinces in the country. Confidence among businesses weakened and consumers cut back on spending after authorities rushed to close tourist sites, call off cultural events and cancel flights.</p>\n<p>“Today’s data again reflected the outsized and asymmetric shock on the service sector from Covid-related restrictions,” said Liu Peiqian, China economist at Natwest Markets in Singapore. While there’s room for a rebound in services PMI in coming months as the outbreak is under control, any future Covid outbreak domestically will continue to weigh on the sector, she said.</p>\n<p>Exports also took a knock despite some overseas buyers placing their Christmas ordersearlierthan in previous years, worried about the risk of delayed shipments. The new export orders sub-index declined to 46.7 in August from 47.7 in July, while the new orders sub-index dropped to 49.6 from 50.9.</p>\n<p>Exporters have faced a number of challenges this year, like container shortages and excessive freight charges.</p>\n<p>Beyond the virus outbreaks, the economy’s recovery is also showingsignsof faltering in the wake of recent regulatory crackdowns and weak demand at home. The central bank hassignaledit may provide more targeted support for some industries, while the government has pledged to accelerate fiscal spending in the second half of the year, helping to cushion growth.</p>\n<p>Other key highlights from the PMI data:</p>\n<ul>\n <li>Sub-index for manufacturing jobs was unchanged at 49.6; non-manufacturing employment decreased to 47</li>\n <li>Construction sub-index rose to 60.5 from 57.5 in July</li>\n <li>Price pressures on manufacturers eased in the month, with input and output prices declining slightly</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s Services Sector Contracts Amid Delta Virus Outbreak</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina’s Services Sector Contracts Amid Delta Virus Outbreak\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-31 09:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-31/china-s-economic-activity-weakens-in-august-amid-delta-outbreak?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems.\n...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-31/china-s-economic-activity-weakens-in-august-amid-delta-outbreak?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","HSI":"恒生指数","000001.SH":"上证指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-31/china-s-economic-activity-weakens-in-august-amid-delta-outbreak?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111747177","content_text":"China’s economy took a knock from the delta virus outbreak in August, with the services industry contracting for the first time since March last year and manufacturing hit by supply-chain problems.\nThe official manufacturing purchasing managers’ index fell to 50.1 from 50.4 in July, the National Bureau of Statistics said Tuesday, slightly lower than the 50.2 median estimate in a Bloomberg survey of economists. The non-manufacturing gauge, which measures activity in the construction and services sectors, slumped to 47.5, signaling a contraction for the first time since the initial virus cases in the first quarter last year.\nChina imposed stringent measures, including travel curbs, mass testing and quarantines, for about a month to bring a new wave of Covid casesunder control. The outbreak was the most widespread since the initial flareup in 2020, sweeping across nearly 50 cities in 17 provinces in the country. Confidence among businesses weakened and consumers cut back on spending after authorities rushed to close tourist sites, call off cultural events and cancel flights.\n“Today’s data again reflected the outsized and asymmetric shock on the service sector from Covid-related restrictions,” said Liu Peiqian, China economist at Natwest Markets in Singapore. While there’s room for a rebound in services PMI in coming months as the outbreak is under control, any future Covid outbreak domestically will continue to weigh on the sector, she said.\nExports also took a knock despite some overseas buyers placing their Christmas ordersearlierthan in previous years, worried about the risk of delayed shipments. The new export orders sub-index declined to 46.7 in August from 47.7 in July, while the new orders sub-index dropped to 49.6 from 50.9.\nExporters have faced a number of challenges this year, like container shortages and excessive freight charges.\nBeyond the virus outbreaks, the economy’s recovery is also showingsignsof faltering in the wake of recent regulatory crackdowns and weak demand at home. The central bank hassignaledit may provide more targeted support for some industries, while the government has pledged to accelerate fiscal spending in the second half of the year, helping to cushion growth.\nOther key highlights from the PMI data:\n\nSub-index for manufacturing jobs was unchanged at 49.6; non-manufacturing employment decreased to 47\nConstruction sub-index rose to 60.5 from 57.5 in July\nPrice pressures on manufacturers eased in the month, with input and output prices declining slightly","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":56,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}