China February Factory Activity Contracts at Record Pace as Coronavirus Bites

An employee works on the production line of a robot vacuum cleaner factory of Matsutek in Shenzhen, China, on Aug. 9, 2019. Jason Lee/Reuters

BEIJING—Factory activity in China contracted at the fastest pace ever in February, even worse than during the global financial crisis, highlighting the colossal damage from the coronavirus outbreak on the world’s second-largest economy.

China’s official Purchasing Managers’ Index (PMI) fell to a record low of 35.7 in February from 50.0 in January, the National Bureau of Statistics said on Feb. 28, well below the 50-point mark that separates monthly growth from contraction.