LAUNCESTON (Australia): There’s no way to sugar-coat the worst-ever reading of China’s manufacturing indexes, which were pummelled as the economy was largely shut down in February as Beijing battled to contain the coronavirus epidemic.
The Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) slumped to 40.3 last month, the lowest since the survey began in 2004 and down sharply from a 51.1 reading in January, as well as the 50-mark that separates growth from contraction.
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