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In the shadow of the crown pandemic, more and more companies in China’s manufacturing industry have started to return to normal production, and growth is increasing somewhat. But clouds are piling up throughout 2020.
China’s purchasing manager index is below March figures. Stock Photography.
In April, according to the National Statistics Office, the country’s purchasing manager index fell to 50.8, a decrease from March 52, but still above the magic hyphen of 50, an index above 50 is considered indicates growth.
According to the Caixin / Markit Purchasing Manager Index for China Manufacturing, the figure fell to 49.4, or below 50 dashes.
Analysts, who had forecast a slightly higher number, warn that the recovery of the Chinese economy after the recession could be an unstable story throughout the year. The Corona pandemic will continue to affect the world economy and Chinese exports are expected to suffer.
Underlying data shows that export orders in April declined faster than during the 2008 financial crisis and were below February figures, when China’s industry was largely silent.
– Unlike February and March, manufacturers’ confidence was not high in April, when the coronavirus hit demand hard and forced them to review the effects of the pandemic. An economic shock could be greater than previously thought, says Zhengsheng Zhong, an analyst at the Cebm Group.
