POST Online Media Lite Edition



 

Wuhan coronavirus impacts China's manufacturing sector in February

Christian Fernsby |
China's manufacturing sector was impacted this month by Wuhan coronavirus epidemic, causing 2,838 deaths and 79,300 infected, the National Bureau of Statistics reported.

Article continues below



Topics: WUHAN    CORONAVIRUS    CHINA    MANUFACTURING   

According to that entity, the index of purchasing managers in that area had a low of 35.7 percent and there were significant losses in 21 polled industries.

For example, this parameter was below 30 points in the producers of chemical fiber and automobiles, while it was above 42 in those of food and beverages.

The Bureau also mentioned that imports and exports experienced rising pressure in February, with falls of 28.7 and 31.9 percent, respectively, due to cancellations of orders and delays in deliveries in the midst of the epidemic.

Coronavirus COVID-19 broke out at the end of 2019 in Wuhan, central China, and a month later forced the entire country to adopt the maximum emergency with restrictions on the movement of people, goods and paralysis in socioeconomic life.

The positive signs of recent days lead to the gradual revival of business, but under strict measures to avoid massive infections between workers and customers.

A poll spread on the local press showed that 60 percent of Chinese firms face operational difficulties due to the virus, six percent are at risk of bankruptcy, 20 percent temporary suspension and only five percent do not register significant damage.

What is more, experts have forecasted that the expansion from 5.3 to 5.9 percent in 2020 of the Gross Domestic Product; in addition to its consequent negative impact worldwide because China is the main manufacturing power and also has a high demand for imports.


What to read next

China manufacturing expanded for 13th consecutive month
Modest growth of German economy despite slump in exports
Goods imports from China in Netherlands worth over 39 billion euros