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China’s PMIs for November show mounting economic pressure as Covid cases surge.
Supply-chain issues are nowhere near as bad as Q2, as local governments seek to target restrictions.
The services sector is suffering most from pandemic restrictions, though even construction is slowing.
construction, governments, local governments, November, pmis, services sector, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence