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Auto Sales In China Down 80% In February

March 4, 2020 by Jonathan Custer

Auto sales in China, the world’s largest passenger car market, fell 80% in February because of the coronavirus epidemic, one of the country’s industry associations said on Wednesday. The China Passenger Car Association (CPCA) said in a statement that China’s overall passenger car sales dropped 80%, without giving a full sales figure for the month. …

U.S. February PMI Comes In At 50.1

March 2, 2020 by Jonathan Custer

The latest report is somewhat meaningless until we see how the coronavirus plays out in the United States. Nevertheless, U.S. manufacturers said business began to significantly slow in February as supply bottlenecks caused by the coronavirus hampered their ability to get parts. The February PMI® registered 50.1 percent, down 0.8 percentage point from the January …

China’s Manufacturing PMI Falls To 35.7 From 50.0, Services To 29.6

February 29, 2020 by Jonathan Custer

Those are some ugly numbers and the lowest on record. Not totally unexpected though much worse than anticipated. The February print came in much lower than the median forecast of 43 by economists surveyed by the Wall Street Journal. China’s official manufacturing PMI dropped to 38.8 in November 2008 at the start of the global …