Recovery expected after plunge in Feb PMI

Experts foresee a recovery of the Chinese economy in March and stable full-year GDP growth, despite a plunge in manufacturing activities last month due to the novel coronavirus pneumonia outbreak.

This came after China unveiled the official purchasing managers index for February, a closely watched gauge of activity in the nation's manufacturing sector.

The index plunged to 35.7, compared with 50 in January and the previous record low of 38.8 in November 2008 amid the global financial crisis, the National Bureau of Statistics said on Saturday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

Five subindexes all retreated into contraction territory, with gauges of production and new orders bearing the brunt, the bureau said.