Economic data shows the virus is hitting Chinese factories harder than the 2008 financial crisis Factory activity in China fell at a record rate in February, as manufacturers closed their operations to contain the spread of coronavirus. The country’s official measure of manufacturing activity – the Purchasing Manager’s Index (PMI) – dropped to 35.7 from 50 in January. It shows the virus is having a bigger impact than the financial crisis that shook the world last decade. The data also suggests that factories are struggling to find enough workers. PMI figures – calculated with data from monthly surveys of private sector companies – are a key indicator of a county’s economic health, and can move financial markets. China makes up a third of world manufacturing and is the world’s largest exporter, so this PMI drop – well below analysts’ expectations – will have a knock-on effect on other countries. […]