China manufacturing weakens for third month in February

BEIJING (AP) — Two surveys show China’s manufacturing recovery weakened for a third month in February as exports and new orders declined. A monthly purchasing managers’ index issued by a prominent business magazine, Caixin, declined to 50.9 from January’s 51.5 on a 100-point scale on which numbers above 50 show activity accelerating. A separate PMI issued by the Chinese statistics agency and an official industry group, the China Federation of Logistics & Purchasing, retreated to 50.6 from 51.3. Manufacturers received a boost from China’s relatively early reopening after the coronavirus outbreak. But sales have been hurt by unease among Chinese consumers about the economic outlook and renewed disease outbreaks abroad that have prompted governments to reimpose business and travel curbs.