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PMI activity index in the processing industry of China amounted to 49.2 points in February, having decreased from the January level of 49.5 points to the minimum level for the last 3 years, data from the country's National Bureau of Statistics showed. The February value of the index did not meet economists' forecast of 49.4 points. Experts believe that the decline in activity in the industry is associated with a weakening of production during the days of the new year celebration according to the lunar calendar. In their opinion, the decline in demand abroad is also a deterrent to the growth of the index. The indicator, which determines the level of new orders, showed a slight increase in February, rising to 50.6 points from 49.6 points. At the same time, the indicator characterizing the state of new export orders dropped to 45.2 points from 46.9 points. Its value was the lowest since February 2009. The production sub-index dropped below 50 points for the first time since January 2009. Its value was 49.5 points.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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