China’s factory activity shrank for the fifth straight month in February, with weak demand in the world’s No. 2 economy weighing on manufacturers across Asia. The official manufacturing purchasing managers index for China came in at 49.1 last month, the National Bureau of Statistics said Friday. However, the Caixin PMI — a private survey that focuses on smaller firms — improved to 50.9. Surveys of factory managers from elsewhere showed manufacturers in North Asia cut output and new orders last month amid subdued customer spending both from domestic and international markets. S&P Global data showed Taiwan’s PMI ... (full story)