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China's PMI drops in February amid epidemic


3 March 2020

PMI in China's industrial sector in February, amid an outbreak of coronavirus, sharply slowed to a record 35.7 points, which was significantly lower than analysts' expectations, according to data released on Saturday by the state statistical office of the PRC.

Compared to January of this year, when the PMI stopped at around 50 points, the figure fell by 14.3 percentage points. Due to the coronavirus epidemic, experts predicted a further slowdown, but only to 46 points.

A PMI value above 50 points indicates an increase in activity, lower - about its decline. Prior to this, February 2019 was the worst for industrial PMI in the last three years, when the figure slowed to 49.2 points.

On December 31, 2019, the Chinese authorities informed the World Health Organization (WHO) about an outbreak of unknown pneumonia in the city of Wuhan in the central part of the country (Hubei Province). Experts have identified the causative agent of the disease - this is a new coronavirus. WHO recognized the outbreak as an emergency of international importance and gave the disease its official name - COVID-19.

The number of infected in mainland China reached 79.2 thousand people, 2835 died, over 39 thousand were cured. Cases of infection outside the PRC were recorded, according to WHO on Friday, in 51 countries, the number of infected reached 4691, 67 people died.

#source

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