March 31, 2020

FED EX HAD THAT ONE RIGHT:

China's service activity bounces back in March (MarketWatch, 3/30/20)

An official gauge of business activity beyond Chinese factory floors rebounded sharply in March, as the country's crucial service sector showed signs of recovery from the coronavirus outbreak, though construction activity showed signs of recovery from the coronavirus outbreak.

China's official nonmanufacturing purchasing managers index climbed to 52.3 in March from a record-low reading of 29.6 in February, the National Bureau of Statistics said Tuesday. March's reading shows expansion, coming in above the 50 level.

The subindex measuring business activity in the service sector jumped to 51.8 from 30.1 in February, while the subindex measuring construction activity was 28.5 in March from 55.1. The new-orders subindex for the entire nonmanufacturing sector, a measure of demand, increased to 49.2 from 26.5 in February. A subindex measuring employment rose to 47.7 from 37.9.

Posted by at March 31, 2020 12:00 AM

  

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