March 2, 2020

Manufacturing in China Plummeted in February

I can’t read this any better than you can, but unfortunately I don’t need to:

This is the manufacturing PMI release for China, and just like the US version a score of 50 is neutral. Anything below 50 means that manufacturing is contracting, and in February manufacturing in China contracted at its fastest rate in recent history. On the (semi) bright side, US manufacturing is showing softness but hasn’t quite started contracting yet:

Meanwhile, the OECD predicts a significant reduction in global economic growth thanks to the coronavirus. Instead of growing at 2.9 percent, they now figure growth will be 2.4 percent at best.

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WE'LL BE BLUNT

We need to start raising significantly more in donations from our online community of readers, especially from those who read Mother Jones regularly but have never decided to pitch in because you figured others always will. We also need long-time and new donors, everyone, to keep showing up for us.

In "It's Not a Crisis. This Is the New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, how brutal it is to sustain quality journalism right now, what makes Mother Jones different than most of the news out there, and why support from readers is the only thing that keeps us going. Despite the challenges, we're optimistic we can increase the share of online readers who decide to donate—starting with hitting an ambitious $300,000 goal in just three weeks to make sure we can finish our fiscal year break-even in the coming months.

Please learn more about how Mother Jones works and our 47-year history of doing nonprofit journalism that you don't elsewhere—and help us do it with a donation if you can. We've already cut expenses and hitting our online goal is critical right now.

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