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China's manufacturing activity drops despite lifted Covid restrictions

25 Sept 06:54 Key points summarised by AI

China's manufacturing activity sharply contracted in December, with the Purchasing Managers’ Index (PMI) falling to 47 points, marking the third consecutive month of decline.
This contraction occurred despite Beijing's loosening of 'zero-Covid' restrictions, as a subsequent surge in Covid cases severely impacted business operations, demand, and supply chains.
The broader non-manufacturing sector, including services and construction, also contracted, indicating widespread economic challenges that make the government's 2022 growth targets appear unrealistic.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.