Dispatch from Beijing: China is getting back to work — to a degree
Signs of life are emerging in China’s coronavirus-stricken economy — even as the epidemic is exploding around the world.
First, the caveats: The resumption in activity has been slow, though steady. And China’s economy could take a second-round beating if the virus flares up again locally. But, for now, undeniable signs of activity are springing up. Apple AAPL, -3.04% has reopened all manufacturing facilities outside of Hubei Province, the center of the virus outbreak, and over half of its 42 China retail stores were back doing business this week. Yet the company hedged, saying, “Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated.”
Equities aside, the positive signs will almost surely be overshadowed by a giant looming number: the official manufacturing Purchasing Managers’ Index, which is to be released Saturday morning Beijing time and is expected to show that production contracted sharply in February. Most economists surveyed said the number would come in around 45 or 46, which would be its lowest level since the financial crisis more than a decade ago.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Covid-19 is now in 50 countries, and things will get worseThe course of an epidemic is shaped by a variable called the reproductive rate. We explain how it spreads
Les mer »
California governor: 8,400 people from commercial flights being monitored for COVID-19California Governor Gavin Newsom said the state is currently monitoring an estimated 8,400 people who arrived in California on commercial flights from Asia...
Les mer »
Coronavirus mortality rate: How Covid-19 fatalities compare to Ebola, SARS and MERSThe new coronavirus has spread to over 40 countries and territories, killing almost 3,000 people.
Les mer »
Markets wake up with a jolt to the implications of covid-19There is an uneasy sense that the virus could trigger a bigger rupture in the world's financial markets
Les mer »
U.S. Coronavirus patient in California wasn't tested for COVID-19 for daysOver 2,800 people have died of COVID-19 in over 82,000 cases worldwide.
Les mer »