The recovery of Chinese industry slowed in February

The recovery of the Chinese industrial sector slowed in February for the third month in a row. Exports weakened and the volume of new orders decreased. This follows the results of two surveys, the results of which were published on Monday. The Purchasing Managers' Index, compiled by the economic magazine Caixin, fell to 50.9 points from the January level of 51.5 points. An index value above 50 points signals an increase in activity in the sector. Another index of purchasing managers, compiled by the Chinese Statistical Office and the Chinese Federation of Logistics and Purchasing, weakened to 50.6 points in February from 51.3 points in January. Chinese industrial producers benefited from the country's relatively early reopening of the country's economy, which closed after the coronavirus pandemic broke out. In February, however, the sales of Chinese industrial producers were damaged by consumers' pessimistic view of the economic outlook. The new spread of the virus abroad also had a negative effect, causing governments to reintroduce restrictions on business and travel.