China official PMIs February: Manufacturing 35.7 (expected 45.0) Non-manufacturing 29.6 (expected 51.0)

China’s economy was hit hard right from the Lunar New Year holiday and the weeks after from the coronavirus outbreak. 

  • deaths now number >3,000 in China 
  • Severe travel restrictions
  • Severe actions on public health
  • Business closures 

Manufacturing 35.7, this is the lowest ever recorded for this indicator. 

  • expected 45.0, prior 50.0

Non-manufacturing 29.6 … I mentioned during the week I was surprised the ‘expected’ for this was still in expansion. And here we are, deepest in contraction ever recorded 

  • expected 51.0, prior 54.1

Composite 28.9

  • prior 53.0

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Coming next week, the private survey PMIs:

2 March at 0145 GMT –
Caixin/Markit Manufacturing PMI for February 

  • expected 47.0, prior 51.1

Then on 4 March at 0145 GMT – Caixin/Markit
PMIs Services and Composite

I suspect the ‘expecteds’ for these will be taken lower after today’s results. 

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