Weekly Economic and Financial Commentary – 02 March, 2020
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for China released last week came in at 40.3 for February, the lowest reading since the survey was launched in early 2004. The numbers come as China continues to grapple with the fast-spreading coronavirus outbreak that has killed more than 2,900 people and infected at least 80,000 others in the mainland.
The gauge for new export orders remained in negative territory and slumped to its lowest point since January 2009. Also, China’s official Purchasing Managers’ Index (PMI) fell to a record low of 35.7 in February from 50.0 in January, according to the National Bureau of Statistics.
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