Chinese manufacturing activity plunged in February, with the first official data published amid the coronavirus outbreak confirming fears over the impact on the Chinese economy. The official manufacturing purchasing managers’ index (PMI) slowed to 35.7, the National Bureau of Statistics (NBS) said on Saturday, having slipped to 50.0 in January when the full impact of the coronavirus was not yet evident. Analysts polled by Bloomberg had expected the February reading to come in at 45.0. A reading below 50 signals indicates a contraction in sector activity. The farther the figure below 50, the greater the contraction in ... (full story)