China posts worst factory activity on record as coronavirus weighs

The collapse in economic activity seen in the data was largely due to virus control measures that have made it hard for workers to travel back after Lunar New Year

Activity in China’s manufacturing sector contracted sharply in February, with the official gauge hitting the lowest level on record, highlighting the devastating impact of the coronavirus on the economy and raising the risk of a worsening global stock rout.

The manufacturing purchasing managers’ index plunged to 35.7 in February from 50 the previous month, according to data released by the National Bureau of Statistics on Saturday, much lower than the median estimate of economists. The non-manufacturing gauge also fell to its lowest ever, 29.6. Both were well below 50, which denotes contraction

The coronavirus outbreak that started in China is