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☆ Chinese Economy Paralysed By Outbreak, Sharp Contraction Seen In Q1
China’s factories were dealt a devastating blow in February as the coronavirus epidemic triggered the sharpest contraction in activity on record, a private survey showed on Monday, with the health crisis paralysing large parts of the economy. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) tumbled to 40.3 last month, the lowest level since the survey began in 2004, and down sharply from the 51.1 reading in January as well as the 50-mark that separates growth from contraction.
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