Wednesday revealed shockingly bad news for services in the world's second biggest economy
Hong Kong The novel coronavirus outbreak has been brutal for China and could plunge the country's economy into its first contraction since the 1970s.
Economic activity sharply declined across the board in February as companies struggled to reopen for business or hire workers during a government-mandated shutdown, according to official and private surveys released in recent days.Wednesday revealed shockingly bad news for services in the world's second biggest economy. Chinese media group Caixin said its purchasing managers index for the sector plummeted to 26.5 last month from a reading of 51.
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