Date
24 October 2017

Early break signals grim time for small factories, Reuters says

Scores of factories in China’s manufacturing hubs have closed earlier than usual for the Lunar New Year holiday due to weak orders and rising costs, suggesting a dim outlook for a key sector of the economy, Reuters reported Wednesday, citing owners and workers. While official trade data remains mildly positive, visits to five factory towns in the coastal industrial centers found that in some areas about a third of manufacturers had already begun closing weeks before the annual break in late January, according to the news agency. Some companies blame weak demand from key markets such as the United States and Europe, while others were forced to cut production because of lack of workers, the report said.

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