China Factory Activity Worsens During Holiday in Official Survey

China’s factory activity contracted more than forecast, according to official figures released on Wednesday, as the longest-ever Lunar New Year holiday brought a lull in manufacturing and construction.

The official manufacturing purchasing managers’ index fell to 49 last month from 49.3 in January, the National Bureau of Statistics said. That matched the lowest in fourth months and was worse than the median estimate of 49.2 by economists in a Bloomberg survey.