Stock market quotes, forex, financial news, forex tools – money-investing.com

In February PMI indexes of China fell to record lows

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
In February PMI indexes of China fell to record lows
March 03
09:00 2020

PMI indicator (Purchasing Managers’ Index), relating to the processing industry of China, has shown the lowest value in February. We recall that this indicator is formed on the basis of surveys of purchasing managers in the manufacturing sector. Over the last month, the value of this indicator has amounted to 50 points. These data are provided by the National Bureau of Statistics.

The PMI index has dropped not only in the industrial sector, but also in the service sector, as well as in construction. We recall that in January its value was 54 points, in February – 29.5 p, which is the lowest indicator in the recorded history.

If the indicator falls below 50 points, it means a decline in the industrial production activity. If it rises higher, then the sector is gaining momentum.

Trading Economics has interviewed some experts and they predicted a decrease in the industrial production index to 46 points, in the services sector – to 47 points.

The Activity Index for both sectors has dropped to 29 points. In January, it was equal to 53 points.

Such indicators signal a large decline in all sectors of the Chinese economy. Coronavirus has had a negative effect on all areas. Because of it, it is necessary to close production and restrict the movement of citizens. Now China has suffered a severe economic downturn.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment