MarketDeal24.Com – Manufacturing sector output of China has recovered somewhat but still remained in a contraction in the current month. As per the prediction, it is well into stabilizing slightly from the COVID-19 triggered slowdown which has virtually hampered activities in the globe’s second-largest economy.
Experts are of the opinion that the recovery will be weak and shallow as the coronavirus has started spreading out to the rest of the world.
The official Manufacturing Purchasing Manager’s Index (PMI) for China is expected to soar to 45 points in March, from a record depth of 35.7 points a month back.
Inspite of this little jump in the manufacturing sector activity, the points are still below the 50-mark which separates contraction from expansion.
It must be noted that, Chinese authorities despite this huge cost to their national economy has imposed some largest and stringiest quarantine or curb in the movement of its citizens in history due to the COVID-19 pandemic which has so far claimed the lives of 3,000 Chinese nationals.