China's factory activities contract at fastest pace on record in February amid coronavirus outbreak

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China's factory activity shrank at the fastest pace on record in February amid the coronavirus outbreak confirming fears over the impact on the Chinese economy.

The official manufacturing purchasing managers’ index (PMI) dropped to 35.7, the National Bureau of Statistics (NBS) said on Saturday, having slipped to 50.0 in January when the impact of the coronavirus was not yet visible.

Analysts polled by Reuters had expected the February reading to come in at 46. A reading below 50 represents a contraction in sector activity. The farther the figure is below 50, the . . .

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