Free Trial

MNI DATA IMPACT: China PMI Plunges To Record Low On Virus Hit

MNI (London)
     BEIJING (MNI) - China's manufacturing Purchasing Manager Index (PMI)
plunged to an all-time low of 35.7 in February, down 14.3 points from the
previous month, giving an early insight of the full impact from the coronavirus
epidemic, the National Bureau of Statistics said on Saturday. 
     MNI highlights the following key points in the NBS statement:
     - Manufacturing PMI of agri-food processing and sectors providing basic
needs came in at 42.0, while that of the medical and pharmaceutical
manufacturing was 39.7.
     - Chemical fibre, equipment and automotive manufacturing PMI all slumped
below 30.0%.
     - Both production and new order sub-indexes slowed sharply, falling by 23.5
and 22.1 points to 27.8 and 29.3 respectively. With new orders higher than the
production sub-index, the NBS said it indicated manufacturing demand was still 
     - New export and import order sub-indices were 28.7 and 31.9, down 20.0 and
17.1 respectively from January. Manufacturers surveyed noted an increase in
order cancellations and delayed delivery of products due to the virus, the NBS
     - Non-manufacturing PMI dropped 24.5 points to 29.6 from a month earlier.
Financial industries stayed strong at 50.1, though the readings for
transportation, accommodation, catering and tourism sectors all plummeted below
     - The March PMI is expected to improve amid a series of policy supports and
accelerated resumption of work, the NBS said. Up to 94.7 large and medium-sized
manufacturers will resume operations by end-March, 9.1 points higher, according
to the NBS survey of purchasing managers.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI Beijing Bureau; +86 10 8532 5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
[TOPICS: MAQDS$,MAUDR$,MAUDS$,M$A$$$,M$Q$$$,M$U$$$,MT$$$$]
MNI London Bureau | +44 203-865-3812 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.