Economics
China’s Factories Were Struggling Even Before the Virus Worsened
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The first official indicator of the Chinese economy in 2020 signaled the nation’s factories were struggling even before the country shut down for the Lunar New Year holidays and the coronavirus outbreak worsened.
The manufacturing purchasing managers’ index dropped to 50 in January, according to data released by the National Bureau of Statistics on Friday, matching the median estimate of economists. The non-manufacturing gauge was 54.1, compared with 53.5 the previous month.