Monday, 3 February 2020 09:02 WIB |
China's factory activity expanded at its slowest pace in five months in January, even as an outbreak of a new virus added to risks facing the world's second-largest economy, a private survey showed on Monday.
The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) eased to 51.1 from 51.5 in December, missing expectations but remaining above the 50-mark that separates growth from contraction for the sixth straight month. Analysts had expected a reading of 51.3.
The findings, which focus mostly on small and export-oriented businesses, were slightly more optimistic than those in an official survey released on Friday, which showed growth had stalled.
But they likely did not reflect the early impact of the public health crisis which flared in late January, which could weigh heavily on economic growth in coming months.
More than 300 people have died from the flu-like virus in China so far and over 14,000 have been infected, with more cases being reported around the world.
The outbreak has prompted widespread transport curbs and tough public health measures in the past week that are already hitting the travel, tourism and retail sectors.
Source : Reuters