China March factory activity strongly rebounds as economy reopens


by   |  VIEW 402
China March factory activity strongly rebounds as economy reopens

On Monday, the 30th of March 2020, data released from the China’s National Bureau of Statistics came as an unexpected breather for a raft of global economic majors which has currently been wrangling with a withering wave of coronavirus infections, cases of which had already surpassed 800,000 across the globe, as China’s March factory activity had regained growth momentum after plunging as much as a record low of 35.2 last month, reigniting hopes of a quick recovery across the globe upon conclusion of the nefarious nightmare.

Besides, as China’s factory activity had bounced back to 52.0 from a record rout of 35.2 last month as beforementioned, the world’s second largest economy had opened up its eastern Hubei province, the previous epicentre of the pandemic which has every possibility to overflood a number of US states after rampaging the bloc’s second- and third-largest economies, while top US health official said later last week that a death toll below 100,000 in the United States would be a morale victory for the shattering US health sector which seemed to have already run out of steam.

Nevertheless, the disease in the United States would likely to reach a threshold or plateau phase by end-April, while industry analysts were expecting a resumption of US factory activity by June. Nonetheless, although China’s factory activity for March came well above an analysts’ estimate of 45.0 and made its way out of a recessed territory to 52, several analysts were cautioned of further pain ahead as a global-scale spread of the pandemic would likely to hinder foreign demands alongside a reeling business investments in a near- to intermediate-term outlook.