Holy moly. I had to do a double take 👀. #China’s factories activity plunges, worse than global financial crisis in 2008/9.
-Manufacturing PMI lowest on record at 35.7 (v. est 46, Jan 50)
-Non-manufacturing PMI at 29.6 (v. est 50.5, Jan 54.1)
-Composite PMI at 28.9 (v. Jan 53) t.co/R4Bo2AzrjN
— Eunice Yoon (@onlyyoontv) February 29, 2020
Note: This isn’t a PR effort to hurt Trump politically. Domestic talk in the US may be, but this reality is too expensive to the Chinese to be fake.
UPDATE: Similar thoughts from Richard Fernandez.