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Chinese manufacturing bounces back

Thursday, 2 April 2020 ( #968 ) - Beijing, China
STAXX has been back to normal production capacity since March
STAXX has been back to normal production capacity since March
China's manufacturing activity in March rebounded from a record low, according to an independent analysis. The Caixin China manufacturing purchasing managers index (PMI), which focuses on smaller, private manufacturers, moved into positive territory in March (50.1) from 40.3 in February. The 50 mark separates contraction from expansion. The report reinforces China's official manufacturing index which showed early signs of economic recovery amid the coronavirus pandemic. China's official manufacturing PMI, which focuses more on large, state-owned firms, jumped to 52.0 in March from a record low of 35.7 in February, according to the National Bureau of Statistics. Meanwhile, it is understood that most Chinese forklift factories are back in production after shutting down, first for New Year and then under China's measures to contain the coronavirus outbreak. Thomas Wang, export director of Ningbo Staxx Material Handling Equipment, says the Staxx factory has been "back to normal production capacity since March". Workers are still following government instructions, wearing masks, undertaking daily disinfection, and having their temperature monitored daily, he says. Wang notes that the spread of the virus in the US and Europe has led to some reduction in demand and requests to postpone deliveries.
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