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
- prior 53.0
Coming next week, the private survey PMIs:
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.