U.S. Manufacturing PMI in March Declines as Coronavirus Outbreak Intensifies

02 Avril, 2020, 05:24 | Auteur: Auguste Feret
  • Employees wearing face masks work on a car seat assembly line at Yanfeng Adient factory in Shanghai China as the country is hit by an outbreak of a new coronavirus

The IHS Markit Purchasing Managers' Index (PMI) dropped to 40.3 in March from 48.7 in February.

"Unsurprisingly, the COVID-19 pandemic had a severe impact on the Vietnamese manufacturing sector in March, with PMI data signalling the worst decline in business conditions since the survey began just over nine years ago".

That carried over into Europe and back to NY, although gains were more modest.

China's factory activity improved slightly more than expected in March after plunging a month earlier, a private business survey showed, but growth was marginal, highlighting the intense pressure facing businesses as domestic and export demand slumps.

China's yuan, however, didn't budge, reflecting analysts' broad views that a sustainable bounce in manufacturing activity looked some way off despite a slowdown in China's coronavirus infections from its peak in February. This is especially true now that much of the rest of the world has entered into lockdown.

Beijing, at great costs to the economy, had imposed draconian quarantine rules and travel restrictions to curb the pandemic that has killed more than 3,000 in the country.

Experts said that while the figure is a sign that a number of factories have started production again, it does not yet mean that China's economy is back to normal, and the ongoing shutdowns in the US and Europe will continue to test demand for Chinese products.

But as Beijing guards against a second wave of infections from overseas, the pace of business resumptions has been slow.

US Coronavirus Death Toll Exceeds China’s
An increasing death toll across both Western Europe and in the United States was a major contributor to the somber milestone. In the U.S. , about 3,550 people have died, about 250 more than China's official number.

COVID-19 infections growing exponentially, deaths near 50,000
However, the researchers stressed that their findings do not prove the virus spreads "in an airborne fashion". He added: "Obviously, more research is required to be able to characterise environmental risk".

NCAA extends eligibility one year for athletes in spring sports
Of those, however, how many already had post-college plans in place? "The athletes work so hard for their senior year". That means seniors interested in returning for the March Madness experience taken away from them can not come back.

US manufacturing activity in March fell at its fastest pace since August 2009 as the coronavirus outbreak in the USA has battered businesses.

A gauge for new export orders was still way below levels seen before the outbreak.

Already, Chinese exporters are seeing overseas orders being scrapped as the worldwide spike in coronavirus infections and deaths has forced numerous nation's trading partners to slow or suspend production.

"(Policymakers) have to accept the inevitable that there is a massive global pandemic here, there is an outbreak in nearly every country globally and certainly in our region, which is getting to levels that if they don't take very dramatic action, it's going to get much worse", he said.

In February, the official PMI hit a record low of 35.7.

Transport delays and shortages of raw materials led to the steepest increase in vendor lead times in the 28-year survey history, further disrupting production.

However, consumer appetite remains depressed and analysts warned the outbreak could have a lingering impact, as many people remain anxious about the possibility of new infections or fretting about job security and potential cuts to wages as the economy struggles.

Conseillé:



Populaire

Tesla to offer free ventilators amid COVID-19 pandemic
California's Democratic Governor Gavin Newsom confirmed last week that Musk had given 1,000 ventilators to his state. Tesla has not clarified the number of ventilators it has , Reuters reported.

Singer Kalie Shorr tests positive for coronavirus despite being self isolated
Kalie Shorr has opened up about her coronavirus diagnosis and the misery that came with the virus. As per a statement provided by his girlfriend, "Adam has been hospitalized with COVID-19".

Truck full of toilet paper burns after crash
KXAS reports that the driver was on his way to a rest stop in Dallas County when he fell asleep and lost control of the truck. The truck driver didn't suffer any serious injuries.

Trump admin will not reopen Obamacare exchanges during coronavirus pandemic
White House has been under growing pressure to launch a special enrollment period to allow the uninsured to purchase Obamacare policies.

Indonesia set to open emergency coronavirus hospital on uninhabited island
Governor Warjiyo stressed Indonesia would not impose capital controls. He said the current exchange rate level was "adequate".

Coronavirus : les Etats-Unis autorisent la chloroquine à l'hôpital
Un habitant de l'Arizona (sud-ouest) est décédé après avoir pris du phosphate de chloroquine pour désinfecter les aquariums. Les autorités sanitaires américaines ont cependant souligné qu'elle n'est autorisée qu'à l'hôpital.

Florida Governor Orders Residents to Stay Home to Avoid Coronavirus
Until now, Florida remained the holdout among states hit hard by the coronavirus in not ordering residents to stay at home. With this order, Florida is joining more than 30 other states, Washington, D.C., and Puerto Rico in ordering a lockdown.

Costco Limiting the Number of Members in Its Stores
Aside from donating medical supplies, the retailer is now requiring employees to perform health checks before reporting to work. Costco Wholesale is limiting the number of members that can come into its stores.

Messi names two Chelsea stars among top 15 rising footballers
Joshua Kimmich: "A hugely talented full-back who provides so many assists". Luka Jovic: "A magical player who makes the impossible possible".

Rai n'écarte pas un retour au club — PSG
En partant d'un côté où il travaillait avec les milieux, il utilisait alors sa perception du jeu, sa rapidité de réflexion.