China's Caixin Manufacturing PMI contracts sharply to 48.1 in March, a big miss China Manufacturing PMI AUDUSD Coronavirus
came in at 48.1 vs. 49.7 expected and February’s 50.4, showing that the country’s business conditions deteriorated amidst the latest covid outbreak last month. contracted to 49.5 in March from 50.2 booked in February and against the 49.9 expected, the National Bureau of Statistics reported on Thursday.“In the manufacturing sector, both supply and demand shrank. In March, Covid-19 flared up in several regions across China, disrupting manufacturing supply chains and impacting production.
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