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May 19, 2022 21:09 min MINS

Lockdowns and labor issues – the next wave of PMI insights

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Paul Smith, Ph.D.
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Annabel Fiddes

Economics Associate Director, Economic Indicators & Surveys, S&P Global Market Intelligence

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Andrew Harker

Director, Economic Indicators & Surveys, S&P Global Market Intelligence

Local COVID-related lockdowns in mainland China, the war in Ukraine, labor shortages, and supply chain disruptions continue to negatively impact the global economy – especially in China and surrounding geographies. Our PMI surveys are showing some of the steepest reductions in overall Chinese business activity and new orders since the initial wave of the pandemic in 2020. Digging deeper into the underlying numbers, our PMI team discusses what this all means for manufacturing health, labor markets, and local policy.


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  • Economic Risk
  • Purchasing Managers’ Index (PMI)
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