Market news
21.02.2020, 10:58

China: PMI to plunge – Standard Chartered

FXStreet reports that China will release manufacturing PMI numbers on 29 February. A big drop is expected by economists at Standard Chartered Bank. USD/CNY is being exchanged at 7.031.

"We expect the official manufacturing PMI to plunge to 36 in February from 50 last month, reflecting the impact of the coronavirus outbreak."

"While newly confirmed cases have shown a downtrend since the beginning of February and restrictions on transport have been eased in some cities, we think disruption to production activity within the survey period will result in the official index reaching a historical low."

"We expect the non-manufacturing PMI to drop to 44 in February from 54.1 prior, entering contractionary territory for the first time on record, as the retail, catering and accommodation, transportation and real-estate sectors have been hit hard by the outbreak."

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location