China's factory activity shrank more slowly in January than in the previous month thanks to the end of the country's zero-COVID policy, though infections among workers still hampered production, a private sector survey showed on Wednesday.
Economists said the worst of the economic slump that followed abandonment of zero-COVID in early December seemed to have passed, because the associated wave of COVID-19 infections had been unexpectedly fast.
Analysts have said the economy, the world's second-largest, will rebound in the first and second quarters, although long-term problems in the property sector and weakening external demand will be a drag on growth. Companies said employee resignations or absences due to COVID infection contributed to a rise in work backlogs.
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