China’s factory activity expanded in February at a slower pace than a month earlier, missing market expectations after brief COVID-19-related disruptions earlier in the year. The official manufacturing Purchasing Manager’s Index (PMI) fell to 50.6 from 51.3 in January, data from the National Bureau of Statistics (NBS) showed on Sunday, remaining above the 50-point mark that separates growth from contraction. Analysts had expected it to decline to 51.1. The industrial sector’s recovery has been driven by strong exports and government stimulus. China’s economy grew just 2.3% last year. (full story)