Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

China Reports Catastrophic Data: PMIs Crash To Record Low, Confirming Coronavirus Collapse
SGT Report ^ | 2-29-2020

Posted on 02/29/2020 10:33:56 AM PST by blam

One week ago, ahead of today’s Chinese data release which would for the first time capture the devastation from the coronavirus pandemic, we wrote that “to those who have been following our series of high-frequency, daily indicators of China’s economy, it will probably not come as a surprise that the world’s second biggest economy has ground to a halt, its GDP set to post the first negative print in modern history. To everyone else who is just now catching up, we have some news: it’s going to be bad.”

Specifically, we said that ahead of official Chinese economic data which will soon start capturing the period when the coronavirus crippled the country’s economy, Nomura’s Chief China economist Ting Lu pointed out that China’s Emerging Industries PMI (EPMI), which gauges momentum in the country’s high-tech industries and is closely correlated with official manufacturing PMI, slumped to 29.9 in February (from 50.1 in January!), its lowest-print on record, which was a “pure reflection of the devastating impact of the COVID-19 outbreak.”

What would this mean for the closely followed China manufacturing PMI? As Nomura added, "even adjusting for seasonality and expected progress in business resumption in the coming week, we estimate the official manufacturing PMI could drop to a range of 30-40 in Feb."

In retrospect, it turns out that Nomura's dire forecast was optimistic, because moments ago China's National Statistics Bureau reported the latest, February PMIs and they were absolutely catastrophic:

(snip)

(Excerpt) Read more at sgtreport.com ...


TOPICS: News/Current Events
KEYWORDS: china; coronavirus; covid19; economy; pmi; prepper; preppers; productivity; sarscov2; virus; wuhan
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 121-136 next last
To: blam

Interesting that I was debating someone here last night who said China is fine all the concern is overblown, etc...

Of course, they had no facts and they accused me of being paid to post concerns??

Anyway, thank YOU for posting actual data!


21 posted on 02/29/2020 10:55:33 AM PST by Freedom56v2
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

ZeroHedge had this yesterday, don’t know which source is original, or if they both got it from somewhere else.


22 posted on 02/29/2020 10:56:49 AM PST by grey_whiskers (The opinions are solely those of the author and are subject to change with out notice.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: yldstrk

The one “Don’t Be Evil” google maps showed as being 911 feet from the market? (It keeps moving it further and further away, 8.4 miles last I heard)...


23 posted on 02/29/2020 10:57:43 AM PST by null and void (By the pricking of my lungs, Something wicked this way comes ...)
[ Post Reply | Private Reply | To 20 | View Replies]

To: madison10

Do not get your hopes up. There are multitude of other cheap labor countries which are eager to take over the business from China. The globalists and very rich people like Bloomberg are making tons of money by using cheaper labor in China and they are not suddenly going to feel patriotic and transfer their business to USA workers.


24 posted on 02/29/2020 11:02:19 AM PST by entropy12 (You are either for free enterprise or want gov't to interfere with corporate issues.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: entropy12

Yeah, I know, not exactly the same USA as it was during WW2. Now the enemy is here.


25 posted on 02/29/2020 11:04:53 AM PST by madison10
[ Post Reply | Private Reply | To 24 | View Replies]

To: blam
The major cause of the problem is that the Democrats have spent 50 years installing blocks and "environmental regulations" that ban manufacturing and construction in the United States.

50% of the costs and 80% of time spent in new construction is wasted gaining "permissions" and "inspections", from local, county, state and national bureaucracies.

Native manufacturing was killed, simply by incremental and progressive infliction of more onerous government controls.

And now, everyone stands, innocently blinking, in the wreckage, and whines that, "It's the greedy corporations!"

26 posted on 02/29/2020 11:05:02 AM PST by jonascord (First rule of the Dunning-Kruger Club is that you do not know you are in the Dunning-Kruger club.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: entropy12

I have no problem with a dozen countries each making a fraction of the world’s needs.

I’d like at least one of those companies to be on US soil.

A single source in a hostile country? That’s a problem...


27 posted on 02/29/2020 11:06:56 AM PST by null and void (By the pricking of my lungs, Something wicked this way comes ...)
[ Post Reply | Private Reply | To 24 | View Replies]

To: blam

During WW2, the japanese tried to firebomb the US west coast by floating incendiary balloons across the Pacific. The Chinese can try the same by virus bombing the West coast.


28 posted on 02/29/2020 11:07:46 AM PST by 353FMG ( In Trump we trust.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jonascord

Well said!


29 posted on 02/29/2020 11:09:32 AM PST by null and void (By the pricking of my lungs, Something wicked this way comes ...)
[ Post Reply | Private Reply | To 26 | View Replies]

To: 353FMG

Or they could just come here on vacation...


30 posted on 02/29/2020 11:10:13 AM PST by null and void (By the pricking of my lungs, Something wicked this way comes ...)
[ Post Reply | Private Reply | To 28 | View Replies]

To: blam

As someone that has been saying the wheels WILL fall off of the Chinese economy someday, and at the same time saying it will be a big economic blow to the rest of the world, let me say this won’t make that happen tomorrow or the next day.

This is an opportunity for Trump to quickly negotiate part 2 of a trade deal AND for companies to start diversifying from China.


31 posted on 02/29/2020 11:14:39 AM PST by jdsteel (Americans are Dreamers too!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grampa Dave

Right on!!


32 posted on 02/29/2020 11:15:42 AM PST by laplata (The Left/Progressives have diseased minds.)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Grampa Dave
"President Trump just visited India, and they will be an excellent ally and a top choice to replace the ChiComs."

A more excellent top choice would be the United States.

33 posted on 02/29/2020 11:15:55 AM PST by buckalfa (Post no bills.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
Thanks blam. Apple has reportedly reopened 80 percent of its stores in China and altered its own supply chain.
Also, as the Chinese return to work and shopping (besides streaming movies at home), each 10 percent is about the same as the return to activity of some entire countries in Europe.

34 posted on 02/29/2020 11:16:30 AM PST by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
[ Post Reply | Private Reply | View Replies]

To: datura

> Rapid decoupling from China is a good thing!

Yep, and think of how much worse it would have been for the US if the present Administration hadn’t been leading the charge on decoupling over the last couple of years.


35 posted on 02/29/2020 11:19:23 AM PST by glorgau
[ Post Reply | Private Reply | To 6 | View Replies]

To: Grampa Dave
Like having a rotten/decaying painful tooth removed quickly, instead of applying useless topical treatments.

The time to have done it was about 2001. Now it's more like a liver transplant - with no suitable donors available.

36 posted on 02/29/2020 11:21:26 AM PST by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
[ Post Reply | Private Reply | To 13 | View Replies]

To: blam

O.K. fine.

But things will recover. The Cov-19 crisis is not a long term crisis caused by unsolvable events that are permanently fixed as to their results. The crisis is real, but temporary. Things will recover. The sky is not falling.

My investment managers have been selling some bonds and buying some stocks depressed by the panic. Before year end the portfolio will be showing greater than average returns.


37 posted on 02/29/2020 11:22:03 AM PST by Wuli
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

A longshoreman I know works at LA and Long Beach, two very high volume ports for China trade.

He has had his hours cut down to two shifts a week. Traffic from China is down that dramatically.


38 posted on 02/29/2020 11:22:14 AM PST by Pelham (RIP California, killed by massive immigration)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

The Purchasing Managers’ Index (PMI) is an index of the prevailing direction of economic trends in the manufacturing and service sectors. It consists of a diffusion index that summarizes whether market conditions, as viewed by purchasing managers, are expanding, staying the same, or contracting.


39 posted on 02/29/2020 11:25:51 AM PST by Gen.Blather
[ Post Reply | Private Reply | To 1 | View Replies]

To: null and void

yep


40 posted on 02/29/2020 11:31:41 AM PST by yldstrk (Bingo! We have a winner!)
[ Post Reply | Private Reply | To 23 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 121-136 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson